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An early morning surge in U.S. stocks vanished on Monday as renewed weakness in artificial intelligence and semiconductor leaders pushed the S&P 500 down 0.5% and the Nasdaq Composite down 1.1%.
The Nasdaq Composite dropped nearly 1% on Monday as semiconductor and storage hardware vendors fell sharply, diverging from a broad market rally fueled by plunging oil prices.
A sharp sell-off across technology shares brought an end to a four-week rally for the Nasdaq Composite on Friday, pulling major U.S. stock indices lower.
A retreat from technology equities deepened on Friday, dragging the Nasdaq down more than 2 percent as concerns over high debt loads and financing costs hit AI infrastructure providers.
