AI Bets Hit: Broadcom, Oracle Drag Stocks Down From Record Highs

• Stocks tumbled as investors took profits from the year's winning AI bets, causing global gauges to pull back.
• Broadcom's disappointing sales outlook and Oracle's project delays fueled investor anxiety, leading to a slump in AI-related stocks.
• The Nasdaq 100 slid 1.9% and the S&P 500 fell 1.1%, while the Dow and Russell 2000 also pulled back from highs.
• Longer-dated bond yields climbed after Federal Reserve officials expressed concerns about persistent inflation.
• Despite the recent selloff, strategists from Goldman Sachs and others forecast new stock market records next year, citing economic growth and broader AI adoption.

Why It Matters: AI stock downturns signal market shifts, affecting your investments.