NASDAQ PULLS BACK SHARPLY AS AI CONCERNS RESURFACE

What happened: The Nasdaq fell 2.6 percent to its lowest close in over a month as tech stocks came under pressure from renewed concerns about debt-fueled AI infrastructure spending. Key numbers: Nasdaq down 694.00 points to 26,008.86. S&P 500 down 93.74 points to 7,663.43. Dow up 11.89 points to 52,867.98. Meta (META) fell 7.1 percent. Tesla (TSLA) fell 3.4 percent. Why it matters: Traders' concern about the AI trade shifts daily, driving volatility. AJ Bell's Danni Hewson said enthusiasm for Meta's results faded once investors focused on the large sums it needs to raise for the AI race.

The Nasdaq fell 2.6 percent to its lowest close in over a month as tech stocks came under pressure from renewed concerns about debt-fueled AI infrastructure spending.

Traders' concern about the AI trade shifts daily, driving volatility. AJ Bell's Danni Hewson said enthusiasm for Meta's results faded once investors focused on the large sums it needs to raise for the AI race.