Debt Ceiling Talks and AI Bubble Fears Trigger US Stock Plunge.

US stocks plunged on Friday as talks over the debt ceiling stalled, causing investors to trim their bets on a June interest rate hike. The Nasdaq 100 dropped nearly 0.5%, the Dow Jones was down 0.4%, and the S&P 500 was down 0.4%. Small caps were the weakest link, with the Russell 2000 index falling 1%. Almost all US equity sectors were negative, except for energy and healthcare. Treasury yields slightly rose, with the 10-year yield up by 2 basis points to 3.67% and the two-year yield flat at 4.25%. Gold rose 1% to $1,977/oz, and Bitcoin rose 0.3% to $26,890.