U.S. stocks tumbled Thursday as AI-driven disruption fears prompted a broad selloff across technology shares. The Dow Jones Industrial Average fell 1.3%, the S&P 500 dropped 1.6%, and the Nasdaq Composite plunged over 2% as investors rotated out of tech.

Gold futures sank 3% while bitcoin declined to around $65,000 as investors adopted a risk-off stance. The selling spread beyond software stocks to sectors like trucking, logistics, and real estate services after concerns that artificial intelligence would impact these industries. Cisco Systems shares fell over 12% following a gloomy profit outlook, while Nvidia, Meta, Amazon, and Apple all posted steep losses.

Apple stock was the worst performer among the "Magnificent Seven," dropping 5% amid reports of potential Siri delays. The broader market decline comes ahead of Friday's Consumer Price Index report, which could provide clues about Federal Reserve policy. A resilient labor market, paired with sticky inflation, is seen as reducing the likelihood of near-term interest-rate cuts - a key driver of recent equity gains.