The Economic Times

What triggered US stock market crash today: Wall Street plunges as $1.2 trillion AI scare trade slams logistics and software stocks - Dow, S&P 500 and Nasdaq each fall over 1%

US stock market crashes today due to a growing $1.2 trillion AI scare trade that hit logistics and software stocks hard. The Dow, S&P 500 and Nasdaq each fell more than 1%. Investors are dumping Nvidia, Apple, and Amazon stocks. New data shows AI could replace 400% of logistics labor, fueling disruption fears. While S&P 500 tech names crash, money is moving to Walmart and Boeing. Traders now await Fridays CPI inflation report to see if the Fed will cut rates.