Wall Street Hit by Tech Rout as AI Winners Tumble: Markets Wrap

Volatility lashed Wall Street, pushing high-valuation technology shares and crypto lower while bonds pared losses after a senior Federal Reserve official signaled room for rate cuts.

A tech rout hit stocks amid growing skepticism about the artificial-intelligence trade. Nvidia Corp. sank 3.8%. Losses accelerated as the S&P 500 breached a key technical level, with the index down 1.2%. The Nasdaq 100 slid 1.9%. In late hours, Micron Technology Inc. gave an upbeat forecast.