US Stock Market Today: Nasdaq Slides as AI Selloff Hits Nvidia, Fed and Oil Risks Loom
Nasdaq Composite slumped Tuesday morning, pulling major U.S. equity benchmarks into the red after renewed worries about artificial intelligence demand rattled chipmakers and names tied to the cloud. By 11:49 a.m. ET, Nasdaq had dropped 1.44%. The S&P 500 was off 0.78%, while the Dow managed a slim 0.12% gain, according to Reuters. The shift grabbed attention, given how much the latest Wall Street rally has ridden the AI wave. A Wall Street Journal piece said OpenAI fell short of some internal milestones for weekly users and revenue, sparking fresh doubt among investors about whether the billions sunk into high-powered chips and sprawling data centers will deliver profits on schedule.