Major U.S. stock indexes fell sharply, with the Dow Jones Industrial Average dropping nearly 300 points due to a decline in shares of major companies such as Coca-Cola and IBM. Increased fears about potential AI spending have compounded the worries triggered by tech earnings reports, while oil prices surged to $100 a barrel. Other significant contributors to the decline included losses from Goldman Sachs and Alphabet Inc. Meanwhile, the overall market sentiment remained bearish as late selling pressure overshadowed earlier gains.