US Stock Market Faces Significant Decline Amid Investor Concerns

The U.S. stock market experienced its worst decline in a month, with major indexes like the S&P 500 and Dow Jones dropping significantly due to worries over high-priced AI stocks and uncertainty about future interest rate cuts.

The U.S. stock market suffered its most significant slump in a month, with indices across the board retreating sharply. The S&P 500 dropped 1.7% on Thursday, distancing itself from a recent all-time high achieved last month.

Meanwhile, the Dow Jones Industrial Average tumbled nearly 800 points from the record it set just the day earlier, and the tech-heavy Nasdaq composite shed 2.3%. The downturn was largely driven by declining AI stocks, notably Nvidia, which contributed heavily to the market's overall malaise.

Widespread anxiety prevailed as traders expressed skepticism about anticipated interest rate cuts, causing a ripple effect that saw most stocks on Wall Street join the decline.

(With inputs from agencies.)