The Dow closed lower by 817 points, or 1.91%. The broader S&P 500 slid 1.61% and the tech-heavy Nasdaq Composite fell 1.41%.

OpenAI will merge with Ive’s tech company, io, according to a joint announcement from Ive and OpenAI CEO Sam Altman. The deal is said to be valued at about $6.5 billion, according to reports from The ...