S&P 500 Falls as AI Trade Concerns Rise and Dip Buying Weakens

The S&P 500 fell Tuesday, Nov. 10, as concerns about AI-related trades rose and investors showed less willingness to buy after losses, ending two consecutive sessions of gains.

The decline followed a 4.4% drop on Nov. 5, the index’s largest one-day loss since 2025. Higher-than-expected inflation data added to market pressure.

The weakness came amid a split beneath the index: non-AI stocks had rallied while the S&P 500 reached records, even as AI-related shares faced pressure. Through Oct. 21, the median S&P 500 stock was about 15% below its own peak, as detailed in earlier coverage of the non-AI rally.