Nasdaq slides: Index posts steepest weekly drop since April; AI rally doubts weigh on tech stocks

The Nasdaq Composite experienced its sharpest weekly loss since early April, as investors questioned the sustainability of the AI boom amid concerns about China’s potential to lead in AI development. Despite this pullback, the S&P 500 and Dow Jones Industrial Average rebounded late in the session, buoyed by reports of progress in ending the federal government shutdown.