Tech Stocks and Fed Worries Drag Down Stocks; Bitcoin Surges to Record High as Alibaba Bets on AI and Stitch Fix Stumbles

• S&P 500 opened lower due to tech stock decline and Fed rate cut concerns • Bitcoin hit a new all-time high • Alibaba investing in Chinese AI startup MiniMax • Stitch Fix shares fell after wider-than-expected loss and cut sales outlook • AT&T upgraded by Wolfe Research citing fundamentals, debt paydown, efficiency