US stock market crashes today: Why are Dow, S&P 500, Nasdaq down today — Tesla, Meta, Microsoft in red

US stock market crashes today: Dow, S&P 500, Nasdaq down today. The Nasdaq tanked 2.21%, led by an 11% crash in Microsoft over high AI spending. S&P 500 fell 1.21% while the Dow dropped 0.55%. Meanwhile, Gold hit a record $5,500 and Oil neared $70 as President Trump warned Iran of military strikes. Investors remain cautious following the Fed's steady rate decision.