Wall Street: tech stocks suffer their worst drop since 2020
Original headlineWall Street : les valeurs technologiques connaissent leur pire chute depuis 2020
Not investment advice. Muhabbit scores how much a story may matter, not which way to trade.
The Nasdaq-100 fell 6.36% on Thursday, marking the index's worst single session since the Covid-19 pandemic and erasing $2.3 trillion in market capitalization. The selloff hit U.S. tech giants amid growing fears of a slowdown in artificial intelligence investment, compounded by regulatory risks and doubts over the sector's profitability. The scale of the drop underscores how sensitive markets have become to any sign that AI spending may be cooling. Investors will be watching upcoming earnings and capital expenditure guidance from major tech firms for confirmation of whether AI budgets are holding up.
Muhabbit's AI wrote this summary in its own words from Cryptoast's report and translated it from French. It can get details wrong, so check the source.
Named in this story
Nasdaq-100, US tech giants, Wall Street, AI sector