South Korea Financial Markets

Currency traders work near a screen showing the Korea Composite Stock Price Index (KOSPI) and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Wednesday, June 10, 2026.

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Another sell-off for AI stocks knocks Wall Street back to where it was 5 weeks ago

Another sell-off for AI stocks knocks Wall Street back to where it was 5 weeks ago

Another sell-off for artificial-intelligence stocks dragged the U.S. market sharply lower. The S&P 500 dropped 1.6% Wednesday for its first back-to-back drop in three weeks and is back to where it was in early May. The Dow Jones Industrial Average tumbled 953 points, and the Nasdaq composite led the market lower with a 2% slide. Wall Street has been shaky since last week, when AI stocks went from roaring to records to suddenly turning lower. Among the worries is that their prices have simply shot too high, too fast. Oil prices rose after President Donald Trump threatened more strikes on Iran.