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Dow closes down more than 800 points as AI and tariff risks rattle investors

Home - CBSNews.comΒ·@CbsnewsΒ·2 months ago
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Stocks slumped on Monday as jittery investors digested President Trump's plan to raise global tariffs to 15% and amid renewed concerns about the impact of artificial intelligence apps on the technology industry. The Dow Jones slid 822 points, or 1.7%, to close at 48,804, while the S&P 500 fell 72 points, or 1%. The tech-heavy Nasdaq Composite dropped 1.1%.Gold, regarded as a safe haven in periods of market turbulence, rose 3.4% to $5,254, according to FactSet.Wall Street analyst Adam Crisafulli, head of Vital Knowledge, pointed to concerns about the AI impact on the software sector and other industries as the main reason stocks sank on Monday.AI β€” which until recently had propelled the stock market to a succession of record highs β€” is "increasingly a net negative for the equity market," he told investors in a research note.…

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