US stocks today: Nasdaq sinks 2.2% as Amazon, Intel fuel fresh fears over AI spending

Wall Street experienced significant losses as the Nasdaq fell to its lowest level in nearly three months. Concerns about rising capital expenditures at Amazon and cash burn warnings from Intel influenced the technology sector's downturn. Major technology stocks like Alphabet and Nvidia also saw notable declines due to investor scrutiny. Defensive sectors like consumer staples and healthcare gained some traction in response to the selloff.