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Watch comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Katie Greifeld, Carol Massar and Tim Stenovec. Prices buckled across several asset classes as concern about tech profits and weakness in commodities sent stocks down the most in over three weeks. Gold and silver tumbled as traders plowed money into the perceived safety of bonds. A rout in Bitcoin deepened. The S&P 500 and the Nasdaq 100 slipped 1.6% and 2%, respectively. Cisco Systems Inc. plunged 12% as a tepid margin outlook signaled higher memory-chip prices are taking a toll. All megacaps fell and an ETF tracking software firms slumped 2.7%. Worries about artificial-intelligence disruption engulfed industries from logistics to commercial real estate. In late hours, Applied Materials Inc. gave an upbeat forecast. In the run-up to key inflation data, the yield on 10-year Treasuries slid seven basis points to 4.10%. A $25 billion sale of 30-year bonds drew historic demand. Bitcoin traded under $66,000. Gold sank below $5,000, with algorithmic traders appearing to amplify the precious metal’s sudden drop. Silver plunged 11%. Oil slid about 3%. -------- Watch Bloomberg Radio LIVE on YouTube Weekdays 7am-6pm ET WATCH HERE: http://bit.ly/3vTiACF Follow us on X: / bloombergradio Subscribe to our Podcasts: Bloomberg Daybreak: http://bit.ly/3DWYoAN Bloomberg Surveillance: http://bit.ly/3OPtReI Bloomberg Intelligence: http://bit.ly/3YrBfOi Balance of Power: http://bit.ly/3OO8eLC Bloomberg Businessweek: http://bit.ly/3IPl60i Listen on Apple CarPlay and Android Auto with the Bloomberg Business app: Apple CarPlay: https://apple.co/486mghI Android Auto: https://bit.ly/49benZy Visit our YouTube channels: Bloomberg Podcasts: / bloombergpodcasts Bloomberg Television: / @markets Bloomberg Originals: / bloomberg Quicktake: / @bloombergquicktake