Dow jumps 500 points, Nasdaq slides as investors rotate out of tech shares: Live updates

BREAKING: Dow jumps 500 points while the Nasdaq slides as investors rotate out of tech, amid fears over AI overspending and hot US inflation data.

The Dow jumped 553 points today, and the Nasdaq still managed to fall. That's not a typo, that's a rotation. Money is walking out of the AI trade and buying boring, and you can see the mood on the floor right here.

CoreWeave dropped another seven percent after losing fifteen yesterday, because investors are suddenly asking how much debt is propping up these AI build-outs. One strategist put it plainly, when Treasurys pay five percent, you think twice about a huge bet on AI. Even Elon Musk piled on, warning China will be making a lot of RAM in 2028.

Meanwhile the old economy had a party. Walmart up four percent, Nike up five, Merck over three. And hanging over all of it, that ugly producer price number has traders wondering if the Fed gets forced into tightening before year-end.

The hardest fact tonight, the market didn't leave AI. It just stopped trusting it with everything.

This is Angel Manalo, reporting for HIT.