A selloff in the world’s largest technology companies drove stocks toward their longest slide since August, underscoring the American market’s narrow reliance on a handful of growth giants.

Equities extended their drop into a fourth straight day, with the S&P 500 down over 1%. Ahead of Nvidia Corp's results, the shares sank 3%. The bar keeps getting higher for the chipmaker and its fellow megacaps to convince investors that the billions of dollars spent on artificial intelligence will pay off. Its outlook could have significant implications for markets due to the firm’s massive influence on major indexes.

Pressure is rising on financial markets more broadly as investors reassess the outlook for economic growth at a time when tech behemoths continue to spend heavily on AI. Microsoft Cor

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