Oil Prices Spike, Dragging Stocks Down Except for Nvidia

Stocks fell on Wednesday as oil prices spiked and AI stocks like Sandisk and Western Digital tumbled. Nvidia, however, rose above its buy trigger.

Oil prices increased, causing a drop in the stock market. The surge in oil prices led to a decline in consumer spending power and reduced business profitability.

AI stocks Sandisk (SNDK) and Western Digital (WDC) were among the biggest losers, falling 4.5% and 7.2%, respectively. Nvidia (NVDA), on the other hand, rose 3.1%, surpassing its buy trigger.