US stocks drop sharply as investors hunt for losers that will be hurt by AI

NEW YORK (AP) — U.S. stocks fell sharply Thursday as the market punished companies seen as potential losers from artificial-intelligence technology. The S&P 500 sank 1.6% for its second-worst day since Thanksgiving, though it’s still near its all-time high set late last month. The Dow Jones Industrial Average dropped 669 points, or 1.3%, and the Nasdaq composite fell 2%. AppLovin lost nearly a fifth of its value and tumbled 19.7%, even though it reported a stronger profit for the latest quarter than ana ...