Wall Street extends AI-driven selloff as Nasdaq drops 2.2%

Wall Street continued its decline on Friday, extending a gloomy week, with the Nasdaq composite falling 2.2 percent and the S&P 500 dropping 1.1 percent, while the Dow Jones Industrial Average slipped 0.3 percent. AI-linked stocks such as AMD, Micron, Sandisk, and Vaneck Semiconductor drove the downward pressure, with Coreweave plunging another 11.9 percent, bringing its weekly loss to 25.2 percent. The selloff stems from concerns over Chinese competition, overvaluation, and high debt levels in the sector, though investment chief Michael Rosen downplayed the debt risk as not yet at unreasonable levels.