AI spending doubts trigger steep market selloff as Meta's $825 billion commitment spooks investors

Wall Street's appetite for unlimited artificial intelligence capital spending hit a wall this week as major tech companies' massive infrastructure commitments rattled financial markets. The Nasdaq Composite fell 2.6% on October 23, its steepest decline since June 5, while the 10-year Treasury yield plunged 17 basis points to 4.972%—its lowest level in a month—as investors fled to safety.