The Nasdaq fell 2.2% and S&P 500 dropped 1.4% as investors question stretched AI valuations and $500 billion in AI-related corporate borrowing in 2026.

The Nasdaq posted its worst day since April 2025 as investors question $650 billion in AI spending plans, dragging Bitcoin below $67K in a broad risk-off

Technology stocks were the biggest weights on the market, especially companies that have seen their values surge amid the frenzy over artificial intelligence technology.