Wall Street falls as AI debt worries hit tech stocks

Wall Street closed lower on Wednesday, dragged down by the technology sector amid renewed concerns over artificial intelligence companies' debt levels, with oil prices also rising. The Nasdaq fell 2.60%, the S&P 500 dropped 1.21%, and the Dow Jones was flat. The selloff was driven by investor worries about AI spending, with Meta closing down 6.98% after reporting strong third-quarter revenue but forecasting heavy debt of "hundreds of billions of dollars" over several years. Other tech giants like Nvidia, Amazon, Microsoft, and Alphabet also posted significant losses. Despite higher oil prices, bond yields fell as investors sought safe-haven Treasury assets due to geopolitical uncertainty and weakness in AI-related stocks, reflecting growing skepticism about the profitability of massive digital sector investments.