<p>Datacenter and chip costs fueled sharp decrease in AI sector although non-AI stocks still had a strong showing</p><p>The latest shudder for stocks in the <a href="https://www.theguardian.com/technology/artificialintelligenceai">AI</a> industry pulled markets lower worldwide on Thursday, while oil prices hit their highest levels since May on worries about the <a href="https://www.theguardian.com/world/us-israel-war-on-iran">war with Iran</a>.</p><p>The <a href="https://www.theguardian.com/business/standard-and-poors">S&amp;P</a> 500 fell 1.2% for its worst day since July, while the <a href="https://www.theguardian.com/business/nasdaq">Nasdaq</a> composite tumbled 2.6%. The weakness for tech stocks was so overwhelming that it masked strength for the rest of the US market, in which the majority of stocks actually rose. The <a href="https://www.theguardian.com/business/dowjones">Dow Jones</a> Industrial Average added 11 points, or less than 0.1%.</p> <a href="https://www.theguardian.com/business/2026/oct/22/stock-markets-drop-ai-oil">Continue reading...</a>