AI stocks keep falling, but the rest of the market is supporting Wall Street

NEW YORK (AP) — More drops for artificial-intelligence stocks are hitting Wall Street Thursday, but gains for the rest of the market are keeping U.S. indexes near their records.The S&P 500 was virtually unchanged in midday trading after erasing an early loss. The weakness for AI stocks dragged the Nasdaq composite down 0.4%, but the Dow Jones Industrial Average was up 440 points, or 0.9%, as of 11 a.m. Eastern time as the majority of U.S stocks climbed.The sharp drops for AI stocks began on Wall Street Wednesday and then whipped around the world to send South Korea’s Kospi down 7.6% and Japan’s Nikkei 225 down 4.9% before returning to the United States.It’s their latest stunning swing after they led the market for years. Companies are pouring money into AI in hopes of bigger profits and improved productivity. But data centers and AI chips cost money, and many companies have been borrowing the cash to get them.Now, after yields in bond markets worldwide hit their highest levels in years