Nasdaq suffers biggest loss on Wall Street amid rising fears over AI boom

U.S. stock indices declined, with the Nasdaq suffering the largest loss amid concerns over the sustainability of the rally driven by artificial intelligence. Chip company stocks such as Micron and SanDisk Technology fell, and sector gains since the beginning of the year have diminished. A report about Deep Silicon developing its own AI chip has heightened worries about the sector's reliance on Nvidia and Huawei chips, and the industry is expected to face a new test with SK Hynix being listed on Nasdaq. Additionally, SpaceX's stock declined after its inclusion in the Nasdaq 100, and major indices fell despite the pressure mainly targeting technology and chip stocks.

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