AI stocks drag Wall Street to its worst day in weeks

More drops for AI stocks dragged the U.S. market lower Wednesday, and Wall Street sank to its fourth straight loss.

- BY STAN CHOE

The Standard and Poor's 500 fell 1.2% for its worst day in nearly a month, though it’s still not far from its all-time high set last week. The Dow Jones industrial average dipped 228 points, or 0.5%, and the Nasdaq composite dropped 1.8%.

Slightly more stocks rose within the S&P 500 than fell, but they got drowned out by the drops for companies in the artificial intelligence industry.

Questions continue to dog the former superstars about whether their years-long dominance of Wall Street meant their prices shot too high, as well as whether all the investment in AI will produce enough profit and productivity to prove worth the cost. Worries are also rising about the debt that some companies are taking on to pay for it all.