Salesforce (NYSE: CRM) and Adobe (NASDAQ: ADBE) are down more than 20% year to date despite a 12% gain in the Nasdaq. Here's what's driving the sell-off in these artificial intelligence (AI) growth stocks, and if they could be worth buying now.

The central bank's annual conference in Jackson Hole, Wyoming, kicks off on Friday, with Chair Jerome Powell expected to speak, remarks that will be closely watched for policy signals. Investors have been pricing in a 25-basis-point rate cut in September, according to data compiled by LSEG.

The Nasdaq composite has fallen around 2% over the past two days.

Tech stocks are leading declines on Wall Street, with worries about AI spurring debates about its future. The Nasdaq Composite is down around 2.4% over the last two days, the worst two-day fall since April.

Wall Street ended lower on more declines in technology stocks, but the market pared its losses in the afternoon.

President Trump's tariffs continue to affect global markets and the economy. Follow along for live updates on stocks, bonds and other markets, including the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite.

Key PointsThe Nasdaq-100 index features the top growth stocks in the world, and tracking it has resulted in significant returns for long-term investors.

Stocks continued to trade lower on Wednesday, while yields on U.S. government debt were little changed, after minutes of the Federal Reserve's July meeting showed that officials expected near-term inflation to increase.