Wall Street swings as AI worries hit tech stocks and Nvidia reports results

Stock markets experienced sharp swings, with technology stocks leading the way down on concerns about the disruptive potential of artificial intelligence. Reports suggesting AI could threaten white-collar jobs contributed to the sell-off, with one French report noting a scenario causing significant market volatility.

Nvidia, a major AI chipmaker, reported financial results that beat estimates, but some investors wanted the company to return more cash to shareholders. The tech-heavy Nasdaq 100 index fell sharply during the sell-off, while the Dow Jones Industrial Average later rebounded with a large gain. Markets were also looking ahead to upcoming U.S. jobs data.