Monday’s meltdown was a cold plunge on what had otherwise been a bull market for tech on the belief that AI would usher in a new golden age of worldwide productivity and sector-

U.S. stocks are drifting near a record on Thursday as Wall Street’s recent rally loses some momentum. The S&P 500 was down 0.1% in early trading after pulling to the edge of its all-time high Wednesday following its sixth gain in seven days.