U.S. stocks fall over $1 trillion as AI spending worries hit tech earnings

U.S. stock markets fell sharply on Thursday, erasing more than a trillion dollars in value as investors reacted to earnings reports and growing concerns that massive spending on artificial intelligence infrastructure may not yield expected returns. The selloff was driven by major technology companies reporting results that failed to justify their high valuations, with analysts pointing to fears that the A.I. buildout is outpacing actual revenue generation. NBC News correspondent Brian Cheung reported on the Wall Street decline. In a separate development, cryptocurrency exchange Binance disclosed a security hack, adding to the day's financial turmoil. The market drop comes amid broader economic uncertainty and ahead of the upcoming midterm elections.