{"id":354862,"date":"2025-12-17T21:50:09","date_gmt":"2025-12-17T21:50:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/354862\/"},"modified":"2025-12-17T21:50:09","modified_gmt":"2025-12-17T21:50:09","slug":"more-drops-for-ai-stocks-drag-wall-street-to-its-worst-day-in-nearly-a-month","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/354862\/","title":{"rendered":"More drops for AI stocks drag Wall Street to its worst day in nearly a month"},"content":{"rendered":"

NEW YORK (AP) \u2014 More drops for AI stocks dragged the U.S. market lower Wednesday, and Wall Street sank to its fourth straight loss<\/a>.<\/p>\n

The S&P 500 fell 1.2% for its worst day in nearly a month, though it\u2019s still not far from its all-time high<\/a> set last week. The Dow Jones Industrial Average dipped 228 points, or 0.5%, and the Nasdaq composite dropped 1.8%.<\/p>\n

Slightly more stocks rose within the S&P 500 than fell, but they got drowned out by the drops for companies in the artificial-intelligence <\/a> industry.<\/p>\n

Questions continue to dog the former superstars about whether their yearslong dominance of Wall Street meant their prices shot too high, as well as whether all the investment in AI will produce enough profit and productivity to prove worth the cost. Worries are also rising about the debt that some companies are taking on to pay for it all.<\/p>\n

Broadcom dropped 4.5%, Oracle fell 5.4% and CoreWeave sank 7.1%. Nvidia, the chip company that\u2019s become Wall Street\u2019s most influential stock because of its tremendous size, fell 3.8% and was the day\u2019s heaviest weight on the S&P 500.<\/p>\n

<\/p>\n

\n AP AUDIO: More drops for AI stocks drag Wall Street toward a 4th straight loss\n <\/p>\n

Wall Street is holding steady as oil prices rise. We hear more from AP business correspondent Seth Sutel.<\/p>\n

Power companies that jumped earlier in the year on expectations for stronger demand from electricity-sucking data centers <\/a> also lost some of their shine. Constellation Energy fell 6.7%.<\/p>\n

Only 17% of respondents in a survey of relatively big businesses by UBS said they\u2019re in production at scale with their AI projects. That could be \u201ca reminder for tech investors to remain sober about the likely 2026 revenue growth uplift from AI products,\u201d according to UBS analysts, though the rate continues to rise. <\/p>\n

Also on the losing end of Wall Street was Lennar, which sank 4.5% following a mixed profit report. The homebuilder delivered a weaker profit for the latest quarter than analysts expected, though its revenue topped expectations.<\/p>\n

Executive Chairman Stuart Miller said that conditions remain challenging, with customers feeling less confident while looking for discounts and more affordable options. As a result, the company gave limited forecasts for its upcoming financial performance.<\/p>\n

Progressive, meanwhile, fell 2% after the insurer based in Mayfield Village, Ohio, said that its net income for November fell 5% from its year-ago level. <\/p>\n

On the winning side of Wall Street were oil companies, after President Donald Trump ordered a blockade <\/a> of all \u201csanctioned oil tankers\u201d into Venezuela. It\u2019s Trump\u2019s latest escalation against Venezuela, which may be sitting on more oil than any other country. <\/p>\n

That sent the price of a barrel of benchmark U.S. crude higher by 1.2% to $55.94. just a day after it sank to its lowest level since 2021. Brent crude, the international standard, climbed 1.3% to $59.68 per barrel.<\/p>\n

That in turn helped ConocoPhillips rise 4.6% and cut into its loss for the year so far, which came into the day at 8.5%. Devon Energy rallied 5.3%, and Exxon Mobil climbed 2.4%. <\/p>\n

Oil prices had dropped through most of this year on expectations that companies are pumping more than enough crude to meet the world\u2019s demand.<\/p>\n

Netflix added 0.2% after Warner Bros. Discovery\u2019s board said it still recommends <\/a> shareholders approve a buyout offer from the streaming giant for its Warner Bros. business, rather than a competing hostile bid from Paramount Skydance for the entire company. <\/p>\n

Warner Bros. Discovery fell 2.4%, while Paramount Skydance dropped 5.4%. <\/p>\n

All told, the S&P 500 fell 78.83 points to 6,721.43. The Dow Jones Industrial Average dipped 228.29 to 47,885.97, and the Nasdaq composite dropped 418.14 to 22,693.32.<\/p>\n

In the bond market, Treasury yields held relatively steady ahead of a report coming on Thursday that will show how bad inflation has been for U.S. consumers.<\/p>\n

The yield on the 10-year Treasury held at 4.15%, where it was late Tuesday. <\/p>\n

In stock markets abroad, indexes were mixed in Europe following a stronger finish in Asia. <\/p>\n

South Korea\u2019s Kospi leaped 1.4% for one of the world\u2019s bigger gains and shaved its loss for the week so far down to 2.7%. <\/p>\n

___<\/p>\n

AP Business Writer Elaine Kurtenbach contributed.<\/p>\n","protected":false},"excerpt":{"rendered":"NEW YORK (AP) \u2014 More drops for AI stocks dragged the U.S. market lower Wednesday, and Wall Street…\n","protected":false},"author":2,"featured_media":354863,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[45],"tags":[182,1927,181,507,37246,28,14271,176193,151316,12297,82796,12,5240,7905,1904,793,851,11382,3140,5250,217,3487,72233,18598,11158,176192,74,18232,800,965],"class_list":["post-354862","post","type-post","status-publish","format-standard","has-post-thumbnail","category-artificial-intelligence","tag-ai","tag-ap-top-news","tag-artificial-intelligence","tag-artificialintelligence","tag-broadcom-inc","tag-business","tag-central-america","tag-conocophillips","tag-constellation-energy-corp","tag-coreweave","tag-devon-energy-corp","tag-donald-trump","tag-exxon-mobil-corp","tag-financial-markets","tag-financial-services","tag-general-news","tag-inc","tag-information-technology","tag-latin-america","tag-lennar-corp","tag-netflix","tag-nvidia-corp","tag-paramount-skydance-corp","tag-south-america","tag-stocks-and-bonds","tag-stuart-miller","tag-technology","tag-venezuela","tag-washington-news","tag-world-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/354862","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=354862"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/354862\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/354863"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=354862"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=354862"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=354862"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}