The technology sector has been the driving force behind the market’s direction, whether up or down, all week. Thursday’s losses pushed nearly every major index solidly into weekly losses. If that momentum holds on Friday, it would break a three-week winning streak for the S&P 500, the Dow Jones Industrial Average and the Nasdaq composite.

Tech-heavy stock markets were heading for their heaviest weekly falls in seven months on Friday as investors turned uneasy about how far the rally in artificial intelligence stocks has run, while safer assets such as bonds and the yen moved higher.

Enthusiasm about artificial intelligence and the companies that produce AI services has been overflowing for months. Companies from Amazon to Microsoft to OpenAI have announced a steady stream of multibillion-dollar deals with each other, r aising questions over the sustainability of the industry and its sources of funding.

Wells Fargo said it thinks investors should be trimming exposure to tech stocks and adding to select areas of the market on down days.

Major stock indexes fell sharply on Thursday, with technology and consumer discretionary shares leading losses in the S&P 500, while the British pound firmed after the Bank of England opted against an interest rate cut.

Stocks were trading lower on Tuesday, with the tech sector seeing some of the biggest losses. The S&P 500 Information Technology Sector Index was down 1.8% as investors were reacting to recent earnings reports and deciding whether the high valuations are justified.

AI-fueled euphoria has sent stock prices to new highs, but investors are concerned that some companies' valuations have outpaced their progress.

To escape innovation stagnation, tech firms must revive curiosity, empower experimentation and prioritize long-term purpose over quick profits.

Lorincz said in a response filed in September that she wants to countersue Dias, three of Owens’ children and the man who owned and operated the quadplex where Lorincz resided for damages that exceed $50,000. She has yet to formally file a countersuit, according to court records.

Gary Marcus, the former head of Uber AI Labs and longtime AI researcher, said a worst-case scenario could involve government bailouts of AI firms.