AI stock decline drags Wall Street down

Wall Street experienced declines as AI stocks, which previously surged during the artificial-intelligence boom, retreated amid concerns that their valuations may be overextended. The S&P 500 fell 0.7%, the Dow dropped 0.2%, and the Nasdaq declined 1.3%, with chip companies like Micron, Nvidia, and Broadcom leading the declines. High U.S. Treasury yields and rising oil prices have contributed to investor caution, impacting stock prices and increasing borrowing costs, which are expected to slow growth in sectors like housing and technology.

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