Why is the stock market down today? A hotter-than-expected jobs report erased any lingering hope for near-term Federal Reserve rate cuts — and the US stock market is paying a steep price for that reality check. The Dow Jones fell more than 400 points, the S&P 500 lost 1.8%, and the Nasdaq tumbled nearly 3%. AI stocks led the decline, with Nvidia, Intel, Marvell, and Broadcom losing billions in market value.

The US stock market began trading on a mixed note on Thursday, as a pullback in several artificial-intelligence-linked stocks offset broader gains across the market, while easing…

Stocks are sinking on Wall Street as big technology companies lost ground and weighed down the broader market