Global markets retreated on Thursday as renewed volatility hit artificial intelligence stocks. The S&P 500 dropped 1.2%, marking its most significant single-day decline since July, while the Nasdaq composite slid 2.6%.
The tech sector’s downturn was so pronounced that it overshadowed gains elsewhere, as the majority of U.S. stocks actually finished the day higher. The Dow Jones Industrial Average managed a marginal gain of less than 0.1%.
AI-related equities have been concerns that high interest rates could stifle their growth. This market anxiety also contributed to a sharp decline in Treasury yields. Meanwhile, oil prices climbed amid growing tensions regarding the conflict with Iran.
The S&P 500 fell 93.74 points, or 1.2%, to 7,663.43.
The Dow Jones Industrial Average rose 11.89 points, or less than 0.1%, to 52,867.98.
The Nasdaq composite fell 694 points, or 2.6%, to 26,008.86.
The Russell 2000 index of smaller companies rose 3.01 points, or 0.1%, to 2,784.03.
The S&P 500 is up 3.99 points, or 0.1%.
The Dow is up 865.57 points, or 1.7%.
The Nasdaq is down 131.17 points, or 0.5%.
The Russell 2000 is up 62.66 points, or 2.3%.
The S&P 500 is up 817.93 points, or 11.9%.
The Dow is up 4,804.69 points, or 10%.
The Nasdaq is up 2,766.87 points, or 11.9%.
The Russell 2000 is up 302.12 points, or 12.2%.
