Nasdaq 100 Sinks 4%, Gets Close to Correction Zone: Markets Wrap

The Nasdaq 100 sank 4% on Thursday, nearing correction territory, as a bruising selloff in technology shares fueled concern that the artificial-intelligence frenzy powering the equity bull market may be overblown. The decline marked a sharp reality check for Wall Street, with investors reassessing valuations amid fears of a potential bubble in AI-related stocks.