Stocks closed markedly lower on Tuesday as fears of a bubble in artificial intelligence technology hammered markets for a fourth consecutive trading day.

The Dow Jones Industrial Average plunged nearly 500 points, or 1.1%, Tuesday as fears over an AI bubble shook the market and traders fretted that rate cuts from the Federal Reserve aren’t a sure thing.

Stocks are mixed with the Dow hitting fresh highs on strength in financial heavyweights like Goldman Sachs and JPMorgan, while AMD bucks the technology downtrend following bold AI growth forecasts. Caroline Woods is a Senior Host at TheStreet, where she covers markets and the economy from the New York Stock Exchange.

US stock market futures fell today as the S&P 500 extended a three-day slide. Nvidia and Oracle dropped again as investors questioned high AI valuations and rising data-center debt. Dow futures slipped 140 points or 0.

Growing concerns about an artificial intelligence bubble have, in large part, caused the stock market’s recent bout of volatility. So the AI industry will face an enormous test when Nvidia, the world’s most valuable company and backbone of the AI boom,

AI pioneer Nvidia was again the heaviest weight on the market. The chipmaker's drop of 3.2% brought its loss for the month to nearly 11%, putting it in "correction" territory, or when a stock falls at least 10% from its previous high. The company is scheduled to report is third-quarter financial results on Wednesday.

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Stocks spent Tuesday in the dumpster, with the S&P 500 and the Dow each marking four-day losing streaks. Semiconductor stocks got badly hit–as did equities tied to the AI trade. Still, the situation wasn't entirely grim.

All three major U.S. stock indexes were moving higher in Wednesday's final hour of trading, despite minutes from the Federal Reserve's October meet