Wall Street slips after a morning rally evaporates as some of the market's AI darlings drop

NEW YORK (AP) — U.S. stocks slumped Wednesday after a morning rally evaporated, but the losses on Wall Street weren’t as bad as the manic moves that wracked markets worldwide over the last week.

The S&P 500 slipped 0.8% after an earlier jump of 1.7% petered out. The Dow Jones Industrial Average fell 234 points, or 0.6%, while the Nasdaq composite dropped 1%.

Stocks swung lower as Nvidia, one of Wall Street’s most influential companies, went from a morning gain of 4.4% and...