S&P 500, Nasdaq on track for biggest monthly drop in a year as AI worries bite

Wall Street's main indexes dropped on Friday as AI anxiety hammered technology stocks, with the Nasdaq and the S&P 500 on pace for their steepest monthly loss since March 2025, while hotter-than-expected inflation data also weakened sentiment.

Technology shares faced selling pressure this month as concerns over high valuations and the uncertain payoff from Big Tech's massive AI spending grew.

Indexes down: Dow 1.22%, S&P 500 0.66%, Nasdaq 0.99%

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