Wall Street closes week lower as tech stocks slide on AI spending concerns

NEW YORK — US stocks fell on Friday, leaving major indexes in negative territory for the week as concerns over the sustainability of artificial intelligence spending triggered a sell-off in technology and chip shares. The Nasdaq declined 2.1% and the S&P 500 lost 1%, with shares of major chipmakers, led by Nvidia, dropping as investors pulled back from riskier assets. Rising tensions in the Middle East and an increase in oil prices added to the pressure on broader markets, pushing investors toward assets considered safer havens. Throughout the week, volatility in the technology sector revived questions about the returns on AI-related investments. No further details on market positioning were immediately available.