Wall Street tumbles as worries about AI and high oil prices weigh

Another burst of selling in technology companies rattled Wall Street, dragging down stocks as investors questioned the outlook for the artificial-intelligence trade.

A rout in chipmakers extended into an eighth straight day – the longest retreat since 2008 – on worries over whether the build out of AI infrastructure has outrun the ability of firms to get a return on their investments. CoreWeave, a cloud-computing services provider whose bonds recently hit levels that typically signal distress, sank 14 per cent. The Nasdaq 100 fell 2.5 per cent.

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Bloomberg