(New York=Yonhap Infomax) Jin Woo Choi — The three major U.S. stock indices closed lower in tandem as a wave of selling hit technology stocks.


Markets initially surged on Nvidia Corp.'s blockbuster earnings, but momentum quickly faded as renewed concerns over an artificial intelligence (AI) bubble weighed on sentiment.


Additional downward pressure came after a senior Federal Reserve (Fed) official warned of heightened risks of a sharp correction in financial assets.


On the 20th (U.S. Eastern Time) at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average ended down 386.51 points, or 0.84%, at 45,752.26.


The S&P 500 index fell 103.40 points, or 1.56%, to close at 6,538.76, while the Nasdaq Composite dropped 486.18 points, or 2.15%, finishing at 22,078.05.


Nvidia Corp., the leading AI stock, tumbled 3.15%.


jwchoi@yna.co.kr


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