US Stocks Slump as AI-Driven Selloff Spreads Across Market

A selloff in stocks of US companies that are under threat by artificial intelligence spread across sectors, including more insulated corners of the market like industrials, to send all market gauges lower.

The S&P 500 Index ended the day down 1.6% to extend its skid for a third-straight session. Most megacaps, including Apple Inc., retreated. The tech-heavy Nasdaq 100 Index dropped 2% and posted its fifth day with a loss of at least 1% in the past 10 days, a trend last seen during a ‘Liberation Day’ selloff in April.