U.S. stock indexes dropped to their worst losses since 2022 after profit reports from Tesla and Alphabet helped suck momentum from Wall Street's frenzy around artificial-intelligence technology. The S&P 500 tumbled 2.3% Wednesday. The Dow Jones Industrial Average dropped 1.2%, and the Nasdaq composite skidded 3.6%.
Wall Street experiences worst losses since 2022
U.S. stock indexes dropped to their worst losses since 2022 after profit reports from Tesla and Alphabet helped suck momentum from Wall Street's frenzy around artificial-intelligence technology.
The S&P 500 tumbled 2.3% Wednesday. The Dow Jones Industrial Average dropped 1.2%, and the Nasdaq composite skidded 3.6%.
The profit reports from Tesla and Alphabet weren't disasters, but they raised questions among investors about which other market heavyweights' springtime results could fall short of expectations.
Big Tech stocks have carried the market this year amid the AI furor, but critics say they've grown too expensive.