WALL STREET ENDS DOWN SHARPLY AS AI STOCKS , OIL PRICES WEIGH

What happened: Wall Street closed sharply lower as AI-related tech stocks fell and oil prices jumped on Middle East supply worries. CoreWeave, Broadcom and chip shares led the decline. Key numbers: S&P 500 fell 1.09% to 7,659.44. Nasdaq fell 2.15% to 26,140.03. Dow dipped 0.34% to 52,002.41. Why it matters: Investors are cautious about debt-laden AI infrastructure companies that may not turn profits in time to repay debts as borrowing costs rise. Energy led sector gains, up 2.47%, reflecting a rotation away from tech.

Wall Street closed sharply lower as AI-related tech stocks fell and oil prices jumped on Middle East supply worries. CoreWeave, Broadcom and chip shares led the decline.

Investors are cautious about debt-laden AI infrastructure companies that may not turn profits in time to repay debts as borrowing costs rise. Energy led sector gains, up 2.47%, reflecting a rotation away from tech.