The Dow fell 109.88 points, or 0.23%, to 47,522.12, the S&P 500 lost 68.25 points, or 0.99%, to 6,822.34 and the Nasdaq lost 377.33 points, or 1.57%, to 23,581.14.
NEW YORK: Wall Street's three major indices lost ground on Thursday with the Nasdaq Composite and the S&P 500 leading losses as Meta and Microsoft shares tumbled on worries over surging AI spending, while investors also digested a more hawkish tone from the US Federal Reserve.
Meta shares sank 11.3% for their biggest one-day drop in three years after the social media company forecast "notably larger" capital expenses next year, thanks to investments in artificial intelligence.
