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US Stocks Close Lower as AI Concerns Impact Tech Shares

New york: US stocks ended lower today as renewed concerns over the artificial intelligence boom weighed on technology shares, just days before five of the sector's largest companies are due to report their quarterly results.

According to Qatar News Agency, the SandP 500 index fell 34.81 points, or 0.49 percent, to close at 7,139.10. The decline in the index highlighted investor caution towards the technology sector amidst growing anxieties about the sustainability of the recent artificial intelligence surge.

The Nasdaq Composite, heavily influenced by technology stocks, dropped 222.37 points, or 0.89 percent, to finish at 24,664.73. This significant decrease reflects the market's apprehension regarding the upcoming earnings reports from major tech companies.

Meanwhile, the Dow Jones Industrial Average edged down 20.44 points, or 0.06 percent, ending the session at 49,147.35. Despite the overall negative trend, the Dow's slight dip indicates that concerns were primarily concentrated in the technology sector.