US Stocks Tumble as Nasdaq Drops Over 2% Amid AI Spending Concerns

Economic Times Markets · stocks

The US stock market experienced a significant downturn at the opening bell, with the Nasdaq composite index plummeting over 2% and the S&P 500 falling 1%. This sharp decline was exacerbated by concerns over escalating artificial intelligence spending, which is reportedly impacting major companies like Amazon and Intel. Investors are closely monitoring the financial implications of the AI boom, leading to widespread selling pressure across the market. The ongoing uncertainty surrounding AI investment strategies is contributing to the negative sentiment on Wall Street.