Today….
Tech stocks set to wipe out more than $1 trillion as concerns deepen about the AI boom
Source: NBC
Tech stocks plunged Friday morning, putting the Nasdaq 100 index on course for a more than $1 trillion drop. In early trading, the index fell 3%, which would be its worst one-day drop since mid-June.
Sparking the declines were shares of Amazon, which fell 3%, and Intel, which plunged 30%. Both companies reported quarterly earnings this week that failed to reassure investors and analysts.
In late trading Thursday, Amazon had fallen as much as 10%.
The broader S&P 500 also dropped sharply by more than 1.2%. The index’s tech sector was by far the worst performing Friday, tumbling more than 3.5%.
-snip-
Read more: https://www.nbcnews.com/business/markets/tech-stocks-nasdaq-ai-boom-fears-deepen-rcna606512
By
Mainecat ·
