NEW YORK — S&P 500 tumbles 3 percent as AI chip stocks drag Wall Street toward its worst day since Trump's tariff announcements in 2025. More drops for…
NEW YORK — S&P 500 tumbles 3 percent as AI chip stocks drag Wall Street toward its worst day since Trump's tariff announcements in 2025. More drops for AI chip stocks are dragging the U.S. market lower on Thursday, even as much of Wall Street rises following strong profit reports from AppLovin, Tapestry and other companies. The S&P 500 fell 2 percent and erased its rally from the day before, which was its best in three months.
The Dow Jones Industrial Average was down 502 points, or 0.9 percent, as of 10:10 a.m. Eastern time, and the Nasdaq composite was 3.6 percent lower. Stock markets worldwide felt pressure from continued drops for companies in the artificial-intelligence industry, and South Korea’s Kospi index tumbled 5.3 percent. Such stocks have been swinging for months on worries that the build out of further AI data centers may slow.ecause of how expensive it’s become to borrow money . Tuesday’s U.S. midterm elections added another challenge.
The nationwide victories by Democrats raised the possibility that governments could force pauses in construction of more data cente
This is a source-linked briefing. Read the original report from The Korea Times .