Stocks were mixed Tuesday following the S&P 500’s biggest loss in a month after Advanced Micro Devices’ agreement to acquire chipmaking rival Xilinx for $35 billion overshadowed a surge in coronavirus infections.
The Dow Jones Industrial Average fell 147 points, or 0.53%, to 27,537, the S&P 500 slipped 0.15% and the Nasdaq was up 0.5%.
Stocks in the energy, industrial and financial sectors were leading te Dow and S&P 500 markets lower.
Xilinx was rising 7.62% to $123.28 in trading Tuesday. AMD was down 4.66% after announcing the acquisition and reporting third-quarter earnings that beat Wall Street forecasts.
AMD Buys Xilinx for $35 Billion, Posts Better-Than-Expected Profit
Consumer confidence came in worse than forecast in October as the U.S. saw a resurgence in coronavirus infections and Americans worried the outbreak could weigh