The US stock market extended its decline, with the Nasdaq Composite dropping more than 2%. Following earnings from major tech companies, concerns over massive investments in artificial intelligence reignited, while a sharp rise in oil prices due to Middle East tensions fueled inflation worries. The Dow Jones Industrial Average fell 506.93 points to close at 51,711.65, and the S&P 500 lost 108.99 points to end at 7,389.97.