Wall Street's superstars are tumbling Monday as a competitor from China threatens to upend the artificial-intelligence frenzy that's helped them make so much money.
The S&P 500 was down 1.6 percent in morning trading and heading for its worst day in more than a month. Big Tech stocks took some of the heaviest losses, with Nvidia down 13 percent, and they dragged the Nasdaq composite down 2.7 percent.
Stocks outside of AI-related industries held up much better, though, and the Dow Jones Industrial Average was down by just 65 points, or 0.1 percent, as of 10:27 a.m. Eastern time. The Dow has much less of an emphasis on tech than the S&P 500 and Nasdaq.
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