U.S. equities closed sharply lower on Thursday as investors rotated out of technology shares amid growing concerns over AI-driven disruption and caution ahead of Friday’s consumer price index report.

The S&P 500 fell 1.57%, while the Nasdaq Composite dropped 2.03% as tech giants bore the brunt of the selloff. The Dow Jones Industrial Average declined 1.34%.

Crypto-related stocks tracked the broader weakness, with digital asset names underperforming the market. Coinbase (COIN) slid 7.9%, while Robinhood (HOOD) fell 8.79%. UPXI led losses among crypto-exposed equities, dropping 8.91%. Coinbase stock is trading -56.79% over the past 6 months, while Robinhood is -37.66% in the same period.

The declines came as what analysts are calling…