US stocks today: Nasdaq lags on angst over AI spending ahead of earnings reports

US markets closed mixed with the Nasdaq falling 0.63% on worries over ballooning AI capital spending ahead of earnings from megacaps Microsoft, Amazon, Meta, and Apple. Alphabet's plan to hike capex even while burning cash rattled investors, shifting sentiment from fear of missing out to fear of overbuilding. Intel's above-estimate profit guidance and raised spending plan also failed to lift sentiment, dragging the Philadelphia Semiconductor index. Separately, crude oil fell over 3% on profit booking, while the Trump administration imposed new tariffs of 10 to 12.5% on goods from 60 trading partners.