Chip selloff deepens Wall Street losses as doubts grew over AI returns

Selloff in semiconductor stocks extended on Friday weighing on major US indexes as concerns mounted over the outlook for the artificial-intelligence trade, Bloomberg reported.

Weakness in technology shares weighed on the S&P 500 even as most of its components advanced. The Nasdaq 100 dropped 1.8%, while an index of major chipmakers declined for an eighth consecutive session—its longest losing streak since 2008.