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S&P 500, Nasdaq end sharply lower as revived AI doubts ignite tech selloff
Meta’s plan to raise capital for AI spending deepened worries about profit pressure, sending chipmakers and other tech stocks lower.
- On Thursday, the Nasdaq Composite tumbled 2.6% as investor concerns over AI infrastructure spending triggered a broad technology selloff, erasing nearly $1 trillion from the Nasdaq-100.
- Renewed anxieties regarding the sustainability of massive AI investments triggered the rout, while Brent crude oil prices climbed toward $115 a barrel, compounding market pressure.
- Chip and semiconductor companies suffered sharp losses, with the Philadelphia SE Semiconductor Index on track to shed more than $616 billion as Meta Platforms, Nvidia, and Lam Research shares slumped.
- Investors shifted capital into safe-haven government bonds as the 10-year Treasury yield tumbled, while Asian and European indexes recorded sharp declines following the technology rout.
- Market participants remain cautious ahead of Federal Reserve decisions and upcoming earnings reports, with analysts warning that strong results alone are insufficient if outlooks fail to match demanding valuations.
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The tech-heavy Nasdaq100 index suffered heavy losses in Thursday's stock market trading
·Copenhagen, Denmark
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Daily Record+2 Reposted by 2 other sources
Asian shares mostly rebound from AI-related losses, while oil prices jump
Asian shares are mostly higher after markets rebounded from early losses, while oil prices pushed higher. The price of Brent crude was hovering above $114 per barrel early Friday. On Thursday, the S&P 500 fell 1.2%, logging its worst day…
Worries about the future of artificial intelligence (AI) investments wiped a trillion dollars off the valuations of technology companies on Thursday. The tense economic environment is starting to weigh on even ambitious AI development plans, and the market is starting to react with extreme sensitivity to even relatively minor news.
·Vilnius, Lithuania
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Total News Sources251
Leaning Left39Leaning Right35Center66Last UpdatedBias Distribution47% Center
Bias Distribution
- 47% of the sources are Center
47% Center
L 28%
C 47%
R 25%
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