AI stocks slip and global markets retreat as oil hits 5-month high

Drops for stocks in the artificial-intelligence industry are dragging markets down worldwide on Thursday, while oil prices hit their highest levels since May on worries about the war with Iran. The S&P 500 sank 1.3% following even sharper losses in Asia, whose markets are full of AI and other technology stocks. The Nasdaq composite was down 2.4%, as of 12:56 p.m. ET, but stocks outside of tech did better, and the Dow Jones Industrial Average was down a more modest 40 points, or 0.1%. AI-related stocks have been shaky on worries that their boom may be under threat because of how expensive it’s