AI Spending Worries Hit Stocks

The potential delay of hundreds of billions of dollars in promised spending on artificial intelligence is dealing a new blow to the stock-market rally.

- BY VICKY GE HUANG AND SEBASTIAN HERRERA

Investors had piled into shares of banks, industrial companies and materials producers earlier in the week, with bets that lower interest rates will reheat a sluggish economy sending the Dow Jones Industrial Average and S&P 500 to new highs. On Fr