Wall Street Closes Sharply Lower: Nasdaq 100 Drops Nearly 4% on AI Spending Fears

Trading on Wall Street closed sharply lower, led by technology stocks, news agencies Reuters and Bloomberg reported. The Nasdaq 100 index tumbled nearly 4% amid mounting investor concerns over the rapid cash burn and heavy capital spending by tech giants on artificial intelligence infrastructure.

According to the reports, the broad selloff capped a third consecutive week of market losses. The downward pressure was exacerbated by the steep plunge in Intel shares, which finished approximately 30% lower, weighing broadly across major indexes and funds. Further details regarding the impact of the closing session on next week's trading have not yet emerged.