Stock Market Today: Meta’s Spending Plans Reignite AI Bubble Fears as the Nasdaq Sinks 2.6% and Money Runs to Defensives

The Nasdaq fell 2.6% as Meta’s higher capex floor revived doubts about AI spending, dragging chip stocks and hyperscalers lower. Lockheed Martin, Spotify and Procter & Gamble rallied, the 10-year yield dropped below 5%, and Brent oil climbed above $113.