Dow Falls 0.33% as AI Stocks Slump; Nasdaq Drops 2.1%

The Dow Jones Industrial Average fell 175.28 points (0.33%) to close at 52,002.41 on October 16, as selling intensified in AI-related stocks and rising crude oil prices dampened investor sentiment. AI infrastructure company CoreWeave plunged as much as 14%, with its 2032 bond yields rising, reflecting concerns about AI investment sustainability and funding that spread to other AI infrastructure stocks. Cisco Systems and Nvidia also declined. WTI crude futures hit their highest level since mid-September near $101, driven by Middle East tensions and Russia-Ukraine relations. The Nasdaq composite fell 2.14% to 26,140.034, led by semiconductor losses, while Chevron, Coca-Cola, and Procter & Gamble gained.