Financial Markets Wall Street
A television screen on the floor of the New York Stock Exchange displays the rate decision of the Federal Reserve, Wednesday, Oct. 28, 2026, in New York.
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More drops for AI chip stocks are dragging the U.S. market lower, even as much of Wall Street rises following strong profit reports from AppLovin, Tapestry and other companies. The S&P 500 fell 2% Thursday and erased all its gain from the prior day, which was its best in three months. The Dow Jones Industrial Average dropped 502 points, and the Nasdaq composite tumbled 3.6%. AI-related stocks worldwide felt pressure from worries that Tuesday’s U.S. elections could mean moratoriums for data centers, and South Korea’s Kospi index fell 5.3%. AI-related stocks are some of the most influential on Wall Street because of their size.
