AI and interest rates combined to send the U.S. stock market downward on Thursday in one of its worst days since April, according to the Associated Press.
The S&P 500 sank 1.7%, the Dow Jones Industrial Average lost 672 points, or 1.4%, and the Nasdaq Composite was down 2.6%, as of 1:15 p.m. They each fell to, respectively, 6,740, 47,527 and 22,857.
Nvidia saw a 4.9% drop, with other AI companies like Super Micro Computer dropping 8.2%, Palantir Technologies falling 7% and Broadcom shedding 5.6%.
Several stocks outside of AI fell as traders worried about the Federal Reserve not cutting interest rates in December, which had been the prevailing assumption.
