Dow Jones Plunges 1,000 Points, Nasdaq Sinks 2% as AI Fears Rattle Markets

• Wall Street indices suffered deep cuts, with Dow Jones falling nearly 700 points and 1,000 points off its daily high.
• Nasdaq sank over 2% and S&P 500 fell 1.6% as AI disruption fears intensified.
• Cisco Systems dropped 12% due to disappointing guidance, while software stocks continued their sell-off.
• Financial heavyweights like Goldman Sachs and Bank of America fell 3-5% on AI disruption fears in wealth management.
• Investors shifted to defensive stocks like Walmart and Coca-Cola, which saw gains amidst the market turmoil.