U.S . STOCKS PLUMMET AS AI CONCERNS RESURFACE , NASDAQ PLUNGES INTO CORRECTION TERRITORY

What happened: U.S. stocks fell sharply on Thursday, reversing the prior session's rally, as renewed AI concerns hit the tech sector and the Nasdaq dropped into correction territory. Key numbers: Nasdaq fell 1,421.52 points, or 5.5 percent, to 24,315.00. S&P 500 fell 334.89 points, or 4.4 percent, to 7,353.73. Why it matters: Investors remain cautious about elevated technology valuations and whether substantial AI spending can generate sufficient returns, per Daniela Hathorn of Capital.com. Some traders also worry about tighter AI regulation after Democrats' midterm takeover of Congress. Coverage: 6 outlets in 24h

U.S. stocks fell sharply on Thursday, reversing the prior session's rally, as renewed AI concerns hit the tech sector and the Nasdaq dropped into correction territory.

Investors remain cautious about elevated technology valuations and whether substantial AI spending can generate sufficient returns, per Daniela Hathorn of Capital.com. Some traders also worry about tighter AI regulation after Democrats' midterm takeover of Congress.