Good afternoon and welcome to Markets Desk.
Wall Street is taking a hard hit today as artificial intelligence stocks lead a broad selloff. The S&P five hundred dropped one point seven percent, whipsawing between an early gain and a loss of more than two percent. The Nasdaq composite fell nearly three percent, pulling sharply away from highs set just last week, with traders questioning whether the AI trade has run ahead of fundamentals.
Staying in the AI space but looking at the longer game, Meta is committing one hundred fifteen million dollars to train the construction workforce needed to build its data centers. Electricians, fiber technicians, and site workers are in critical shortage, and Meta's move signals that the infrastructure bottleneck is now a boardroom priority, not just a labor market footnote.
Meanwhile, a sobering fiscal warning is drawing attention on Capitol Hill. A new report finds that a critical Social Security retirement fund is now expected to run dry by two thousand thirty two, two years sooner than prior estimates. Lower birth rates, fewer immigrant workers, and tax cuts for seniors are all compressing the timeline, putting fresh pressure on lawmakers to act.
That's the tape. Markets Desk, signing off the floor.
