Stock Market Summary

The stock market experienced notable declines, with the tech-heavy Nasdaq Composite dropping by 1.81%, primarily influenced by losses in AI-related stocks including Oracle, Broadcom, and Nvidia. The S&P 500 and Nasdaq closed below critical support levels, reflecting a broader sell-off in technology stocks, raising concerns about a potential AI bubble.

Despite the downturn in tech, defense stocks surged as German lawmakers prepared to approve a significant $60 billion defense procurement plan. Meanwhile, the Dow Jones index showed some resilience by rising after a previous drop, with Micron's strong earnings contributing to this uptick.

In corporate news, Coursera announced its acquisition of Udemy for $930 million in an all-stock deal, aiming to consolidate its position in the online learning market. Additionally, Coinbase is expanding its services by rolling out stock trading and prediction markets, aiming to position itself as an 'everything exchange' in the evolving financial landscape.