US stocks plunged Friday, wiping out over $1 trillion in value as the Nasdaq fell 3.4%, its worst daily drop since June, amid AI spending…

US stocks plunged Friday, wiping out over $1 trillion in value as the Nasdaq fell 3.4%, its worst daily drop since June, amid AI spending concerns and disappointing Intel and Amazon earnings. The S&P 500 dropped 1.8%, while Intel plunged 29% in its worst-ever single-day loss.