A global sell-off for stocks whips back around to Wall Street as Nvidia and other stars keep falling

By STAN CHOE Associated Press Business Writer NEW YORK AP The U S stock industry is falling sharply again on Tuesday joining a global-sell off stretching from Asia to Europe as Nvidia bitcoin and other Wall Street stars keep falling on worries that their prices shot too high Related Articles Cloudflare outage disrupts ChatGPT X other internet services Nine in Denver area homes lost value in the past year Zillow reports Slowing international migration could put the brakes on Colorado enhancement New coalition forms to keep Colorado an aerospace defense leader LoHi restaurant blames local contractors for sewage deluge long closure The S P dropped and pulled further from its all-time high set late last month The Dow Jones Industrial Average was down points or as of a m Eastern time and the Nasdaq composite was lower Nvidia was again the heaviest weight on the arena and its drop of brought its loss for the month so far to That s a steep enough fall that Wall Street has a name for it a correction What Nvidia does matters disproportionately to investors because it s the the greater part influential stock on Wall Street It can almost single-handedly steer the direction of the S P on certain days because of its immense size after fervent demand for its AI chips helped it briefly top trillion in total value And the S P sits at the heart of a multitude of investors k accounts Nvidia s and the U S stock sphere s struggles are a sharp turnaround from months of relentless rallying since April when Wall Street sold off after President Donald Trump shocked the world with stiff tariffs That rally though was so strong that critics noted it may have carried stock prices too high too fast and left the realm at liability of a sharp drop They pointed in particular to stocks swept up in the mania around artificial-intelligence device which have been surging at spectacular speeds Countless big investors still seem to be expecting stock prices to rise further according to the latest monthly survey of global fund managers by Bank of America Global Research But when petitioned what the No threat for the realm is one with a lower probability of happening but a high chance of damage pointed to an AI bubble That beat out trouble in the bond sphere inflation and business wars The highest net percentage of investors in years is also saying companies are overinvesting according to the survey The worry is that all the resources pouring into AI chips and evidence centers worldwide may not produce the kind of revolution that proponents have been predicting or at least not as profitable a one Other high-flying areas of the industry with their own evangelists have also been struggling lately Bitcoin s price briefly fell below during the morning down from nearly last month Home Depot helped drag the domain lower after falling It announced a weaker profit for the summer than analysts expected and cited a variety of reasons Chief among them was a lack of storms which would have driven customers to buy more home-improvement supplies But CEO Ted Decker also pointed to consumer uncertainty and continued pressure in housing for preventing an expected increase in demand from happening Reporting stronger profits is one of the avenues a company can make its stock price look less expensive because stock prices tend to track with earnings over the long term Elsewhere on Wall Street Cloudflare fell after an issue at the internet infrastructure provider caused global outages for ChatGPT and other services In the bond area Treasury yields eased The yield on the -year Treasury sank to from late Monday In stock markets abroad indexes tumbled across Europe and Asia Japan s Nikkei dropped after feeling extra pressure from a jump in Japanese leadership bond yields reflecting rising risks as Prime Minister Sanae Takaichi prepares to boost governing body spending and push back the timetable for bringing down Japan s huge national debt South Korea s Kospi sank and France s CAC fell for two of the larger drops worldwide AP Business Writers Matt Ott and Elaine Kurtenbach contributed