AI stock selloff triggers Wall Street's worst day in months

Wall Street suffered a severe selloff Thursday as AI-related stocks plunged, with the S&P 500 falling 3.9% and the Nasdaq entering a correction, more than erasing the previous day's gains. The Nasdaq dropped 5.2%, now over 10% below its October peak, while the Dow fell 1,656 points. Nvidia led losses with an 8.7% decline, and Advanced Micro Devices tumbled 15.5%, driven by concerns over high borrowing costs and potential government pauses on data center construction following Democratic midterm victories. Treasury yields eased to 4.83% as investors sought safety, while oil prices rebounded 3.6% to $98.03 per barrel. Global markets also suffered, with South Korea's Kospi dropping 5.3% and Japan's Nikkei 225 falling 1.8%.