S & P 500 , NASDAQ END SHARPLY LOWER AS REVIVED AI DOUBTS IGNITE TECH SELLOFF

What happened: The S&P 500 and Nasdaq ended sharply lower as revived doubts about AI ignited a tech selloff, with the Nasdaq falling 2.6% while the Dow posted a nominal gain. Key numbers: Nasdaq fell 2.6% to 26,008.86; S&P 500 lost 1.21% to 7,663.43; Dow rose 0.02% to 52,867.98; Philadelphia SE Semiconductor Index plunged 6.7%, its biggest daily drop since Why it matters: Strategist Paul Nolte said investors are starting to realize there are holes in the AI story, which hits the indices because they are heavily weighted toward technology. The SOX had driven much of the bull market's gains.

The S&P 500 and Nasdaq ended sharply lower as revived doubts about AI ignited a tech selloff, with the Nasdaq falling 2.6% while the Dow posted a nominal gain.

Strategist Paul Nolte said investors are starting to realize there are holes in the AI story, which hits the indices because they are heavily weighted toward technology. The SOX had driven much of the bull market's gains.