The three major indices of US stocks collectively closed lower. The Dow fell 0.55%, the Nasdaq fell 0.18%, and the S & P 500 fell 0.19%. Chip stocks generally fell, Intel and Microchip Technology fell more than 5%, Micron Technology, NXP, and Arm Holdings fell more than 2%, and AMD fell nearly 2%. Tesla rose more than 3%, setting a new high since April 2022. Bank of America raised its price target for Tesla from $350 to $400.