Wall Street ended sharply lower on Thursday (November 13), with steep losses in Nvidia and other AI heavyweights, as investors scaled back expectations of interest rate cuts due to inflation worries and divisions among central bankers about the U.

The U.S. stock market tumbled Thursday to one of its worst days since its springtime sell-off, as Nvidia and other AI superstar stocks kept dropping on worries their prices shot too high. Also hurting the market were questions about whether coming cuts to interest rates that Wall Street has been banking on will actually happen.

Asian shares were mixed Wednesday in cautious trading after most U.S. stocks rose, settling back to where they were before last week’s swoon over the future of artificial intelligence. U.S. futures edged higher while oil prices declined.

Nvidia shares were down 2.5% at $194.05 in early trading. The stock gained 5.8% the previous day amid optimism about the end of the U.S. government shutdown. SoftBank disclosed its stake sale, which was conducted in October,

The U.S. stock market is slumping as superstars swept up in the mania around artificial-intelligence technology keep weakening. The S&P 500 fell 1.1% Thursday. The Dow Jones Industrial Average dropped

The U.S. stock market is tumbling Thursday toward one of its worst days since its springtime sell-off, as Nvidia and other AI superstar stocks keep dropping on worries their prices shot too high. Wall Street is also questioning whether the coming cuts to interest rates that it’s been banking on will actually happen.

The Dow Jones Industrial Average rallied 559 points, or 1.2%, to a record, surpassing its prior all-time high set two weeks ago. The Nasdaq composite lagged the market, though, as Nvidia got back to falling amid continued concerns that stocks caught up in the artificial-intelligence frenzy may have become too expensive.