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AI stocks sink and drag markets lower worldwide

AI stocks sink and drag markets lower worldwide

The roller-coaster ride for AI stocks snapped back down Tuesday and dragged Wall Street lower.

The Standard & Poor’s 500 fell 0.4% even though the majority of stocks within the index rose. The drops for stocks in the artificial intelligence industry dragged the Nasdaq composite down 1.2%, while the Dow Jones industrial average dropped 0.2%, from its record.

The weakness began in Asia, where Samsung Electronics tumbled 6.9% in Seoul. The tech giant gave a preliminary look at its performance for the second quarter, and the numbers were strong. Samsung Electronics said it expects to report that its operating profit surged roughly 1,800% from a year earlier.

Analysts called the numbers surprisingly good, but they still weren’t enough for…

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