Major U.S. stock indexes faced a substantial drop amid a renewed selloff in semiconductor stocks, with concerns over AI spending contributing to the market turmoil. Chipmakers like Micron and TSMC have reported disappointing earnings and lowered forecasts, causing investor sentiment to weaken. This led to notable declines in the Nasdaq and S&P 500, with Netflix also suffering after its earnings report. Despite some stocks rising, the overall market closed in the red, highlighting the ongoing challenges within the tech sector and broader economic uncertainties.