Wall Street suffers worst day in months as AI costs spook investors

Wall Street suffered its worst day in months on Friday, with tech stocks leading a sharp decline as investors grew anxious over the massive costs of AI investment that have yet to yield profits. The S&P 500 fell 1.8%, while the tech-heavy Nasdaq composite dropped 2.8%, capping a dire October that erased over $2.84 trillion in market value. Alphabet lost more than a trillion dollars this month, with Nvidia, Meta, and Amazon also hit hard. Reddit had its worst day ever, losing over a quarter of its value as AI overviews cut into search traffic. Oil giants Chevron and ExxonMobil rose, but Bitcoin fell sharply after hackers stole $8.9 billion from Binance. The losses come days before the midterm election, undermining Trump's claims of market success.