Another sell-off for artificial-intelligence stocks dragged the U.S. market sharply lower Wednesday.
The S&P 500 dropped 1.6% after giving up a brief modest gain in the morning. The index had its first back-to-back drop in three weeks. The Dow Jones Industrial Average sank 1.9%, and the Nasdaq composite lost 2%.
Wall Street has been shaky since last week, when AI stocks went from roaring to records to suddenly turning lower. Among the worries is that their prices have simply shot too high, too fast. Oil prices rose after President Donald Trump threatened more strikes on Iran.
The S&P 500 fell 119.66 points, or 1.6%, to 7,266.99. The Dow Jones Industrial Average fell 953.33 points, or 1.9%, to 49,918.78.
The Nasdaq composite fell 509.32 points, or 2%, to 25,169.50. The Russell 2000 index of smaller companies fell 31.56 points, or 1.1% to 2,835.46.
