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The S&P 500 and Nasdaq fell as Wall Street judged President Trump’s meeting with China’s leader a disappointment despite soaring expectations before the meeting.

Big Tech earnings proved divisive: Meta tumbled 11.3% and Microsoft fell 2.9% amid concerns over heavy artificial intelligence spending, though Alphabet gained 2.5%.

Chipotle stock crashed 18% after executives warned that younger, lower-income customers are reducing dining out, signaling broader economic strain on consumers.

The stock market sank from its record heights Thursday, as Wall Street sifted through mixed developments on everything from the U.S.-China trade war to profits for Big Tech behemoths.

The S&P 500 fel

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