An early stock-market rally on Thursday has given way to broad-based selling as doubts about the artificial-intelligence trade re-emerged following the latest batch of earnings from Nvidia.

Stocks rallied in early trading on Thursday, just hours after blockbuster earnings from chip giant Nvidia and a stronger-than-expected jobs report. The Dow Jones Industrial Average jumped nearly 600 points, or 1.2%, while the S & P 500 climbed 1.8%. The tech-heavy Nasdaq soared 2.5%.

Asian stocks have tracked Wall Street’s plunge in skittish trading, with the region’s major benchmarks erasing the previous day’s gains.

Nvidia’s third-quarter earnings beat initially alleviated AI-bubble fears, but tech stocks slipped as markets digested economic data.

Nvidia’s earnings report crushed analysts’ forecasts and tamped down on the market’s fears of an AI bubble bursting.

But fears on Wall Street persist, investment analysts said, despite Mr Huang's reassurance and blockbuster results from the chip-maker, which is seen as a bellwether for the AI boom. Those fears have picked up this month. Speaking to the BBC this month, Alphabet chief executive Sundar Pichai warned of some "irrationality" in the current AI boom.

Tech stocks are falling for a fourth consecutive session as investors brace for Nvidia's earnings report. Bitcoin dropped and bond yields tumbled.

Nvidia (NVDA)'s Q3 earnings beat has lifted stocks across the tech sector, including competitors such as Intel (INTC), AMD (AMD) and Broadcom (AVGO). But there are four stocks (000660.KS, 005930.KS, MU,

Large-cap stocks are known for their staying power and ability to weather market storms better than smaller competitors. However, their sheer size makes it more challenging to maintain high growth rates as they’ve already captured significant portions of their markets.

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

Throw in crazy AI valuations, for privately held startups and publicly traded stocks alike, and what we’re seeing looks a lot like a bubble. Perhaps this time is different. But note that phrase served as the ironic title of an acclaimed 2011 book by economists Carmen Reinhart and Kenneth Rogoff—a work whose subtitle is “Eight Centuries of Financial Folly.