By STAN CHOE — AP Business Writer
Publication Date: 2025-11-13 16:28:00
NEW YORK (AP) — The U.S. stock market is slumping on Thursday as Nvidia and other superstars swept up in the mania around artificial-intelligence technology keep weakening.
The S&P 500 fell 1.3% in afternoon trading and pulled further from its all-time high set late last month. The Dow Jones Industrial Average lost 471 points, or 1%, from its own record set the day before, while the Nasdaq composite was down 2%, as of 12:14 p.m. Eastern time.
Nvidia was the heaviest weight on the market after the chip company lost 4.1%. Other AI darlings also struggled, including drops of 6.4% for Super Micro Computer, 5.1% for Palantir Technologies and 4.9% for Broadcom.
Questions have been rising about how much more superstar AI stocks can add to their already spectacular gains. At the start of this month, Palantir was sporting a stunning rise of nearly 174% for the year so far, for example.
Such sensational performances have been one of the top reasons the U.S. market has hit records despite a slowing job market and high inflation. AI stock prices have shot so high, though, that they’re also drawing comparisons to the 2000 dot-com bubble which ultimately burst and dragged the S&P 500 down by nearly…
