Wall Street closed sharply lower with Nasdaq down over 2% as weak Big Tech earnings and rising AI spending concerns hit sentiment. Surging oil prices above $100, driven by Middle East tensions, reignited inflation fears and pushed bond yields higher, overshadowing gains in defense stocks like Lockheed Martin.

Stock futures were down as oil rose and a rally in AI stocks lost steam ahead of key tech earnings.

U.S. markets opened mixed as Nasdaq and S&P 500 slipped on chip stock weakness, while Dow edged higher. Investors remained cautious ahead of key Big Tech earnings, with focus on…

Wall Street closed sharply lower with Nasdaq down over 2% as weak Big Tech earnings and rising AI spending concerns hit sentiment. Surging oil prices above $100, driven by Middle…