NEW YORK (AP) — Artificial-intelligence stocks are resuming their sell-off on Tuesday, and the former superstars that had led the market to records are dragging Wall Street down with them.
The S&P 500 dropped 1.5% after erasing an early gain of 1% and pulled further from its all-time high set a week ago. The Dow Jones Industrial Average was down 294 points, or 0.6%, as of 12:15 p.m. Eastern time, and the Nasdaq composite was 2.5% lower.
Indexes swung lower as companies selling computer chips, memory and other building blocks of the AI boom broke from early gains to losses. Micron Technology went from a jump of 4.2% to a drop of 7.5%, for example. That's a day after it soared 9.9% and two days after it plunged 13.3%.
