The Dow Jones Industrial Average fell more than 250 points Thursday mid-morning, alongside sharp Nasdaq and S&P 500 declines, following earnings reports from Microsoft (MSFT) and Meta (META), as both tech giants grapple with challenges in meeting the surging demand for AI.

By Caroline Valetkevitch NEW YORK (Reuters) -World stock indexes dropped on Thursday, with the Nasdaq down more than 2% after Facebook owner Meta Platforms and Microsoft both warned of rising costs for artificial intelligence,

Wall Street's major averages slumped on Thursday, as results from tech giants, Microsoft and Meta failed to impress investors, while the key inflation gauge came in line. The Nasdaq Composite (COMP:IND) took the brunt of the losses,