By STAN CHOE AP Business Writer

NEW YORK (AP) — Another wipeout for stocks tied to the buildout of AI data centers is overwhelming Wall Street on Thursday and more than erasing all its gains from the day before, which was its best in three months.

The S&P 500 fell 3.2% after opening with a loss that accelerated through the morning. It’s on track for its worst drop since President Donald Trump shook markets worldwide in April 2025 after announcing his “Liberation Day” tariffs.

The Dow Jones Industrial Average was down 1,146 points, or 2.1%, as of 11 a.m. Eastern time, and the Nasdaq composite was 5% lower.

Stock markets worldwide felt pressure from continued drops for companies that benefited from the boom for the