Wall Street drops Amid AI and SpaceX concerns

U.S. stock indices declined at the start of trading on Friday due to a sharp sell-off in artificial intelligence stocks and investor concerns over the decline in telecommunications shares amid increasing competition from SpaceX. The Dow Jones Industrial Average dropped by about 171 points, while the S&P 500 and Nasdaq decreased by approximately 0.34% and 0.44%, respectively, as fears persisted about how SpaceX's competition might impact the telecom sector and AI-related stocks.

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