U.S. stock indexes closed mostly lower on Thursday as AI stocks plunged, with investors worried about whether massive spending on AI data centers can be sustained, while higher crude oil prices also weighed on sentiment. The Nasdaq Composite fell 2.6% (694 points) to 26,008.86, its worst single-day performance since early June, while the S&P 500 dropped 1.2% to 7,663.43; the Dow Jones Industrial Average edged up 11.89 points to 52,867.98. The CBOE Volatility Index rose 14.1% to 19.03, and 18.79 billion shares changed hands, above the 20-session average of 17.19 billion. Meta Platforms (META) reported third-quarter revenue up 26% to $64.6 billion, beating the $63.4 billion consensus, and adjusted EPS of $7.40, but its free cash flow turned negative at $2.12 billion, the first quarterly outflow in its history, after $34.91 billion in AI capex. META shares fell 7%, while the company raised its 2026 AI capex guidance to $135-145 billion from $130-145 billion.
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