AP
Financial Markets Wall Street
James Conti works on the floor at the New York Stock Exchange in New York, Thursday, Feb. 12, 2026.
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U.S. stocks are dropping as the market punishes companies seen as potential losers from artificial-intelligence technology. The S&P 500 fell 1% Thursday after erasing an early gain that brought it near its all-time high. The Dow Jones Industrial Average dropped 421 points, and the Nasdaq composite sank 1.5% Cisco Systems was one of the heaviest weights on the market after warning of potentially higher expenses, while AppLovin tumbled as worries about AI competition continue to hit software companies. Treasury yields fell in the bond market ahead of Friday's coming report on inflation at the U.S. consumer level.
