Markets saw a decline today with the S&P 500, Nasdaq Composite, and Dow Jones Industrial Average all dropping due to AI-related selling. Cisco Systems and Palantir Technologies were among the tech names that suffered losses.

C.H. Robinson and Ingles Markets were notable movers, with the former tumbling due to AI replacement fears and the latter hitting a 52-week high. The AI apocalypse continues to impact various sectors, including commercial real estate brokers like CBRE Group.

Algorhythm Holdings announced an AI tool that could scale freight volumes, causing investors to pull away from transport and logistics firms like C.H. Robinson, Universal Logistics, and RXO. However, high-bandwidth memory chip providers like Micron, Sandisk, and Seagate Technology saw gains.

Following a strong jobs report, hopes for Fed rate cuts have diminished. Tomorrow’s CPI release is expected to show a downward trend in inflation. Before investing in the S&P 500 Index, consider the 10 best stocks identified by The Motley Fool Stock Advisor team for potential high returns.

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Read more at Yahoo Finance: AI Fears Slam Markets as Nasdaq Drops 2%