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Wall Street falls: Nasdaq drops over 3% on AI spending concerns

FROM THE WIRE · YAHOO.COM

US stock futures sank in the final trading day of the month as earnings from Amazon (AMZN) and Alphabet (GOOG, GOOGL) this week rekindled concerns about the amount of money Big Tech is spending on its AI ambitions.

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MARKET IMPACTHIGH✦ News Impact agent estimateTone: expected bearishThe sharp Nasdaq and major index drop reflects concern over Big Tech AI spending.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01US stock futures sank on the final trading day of the month.
  2. 02Earnings from Amazon and Alphabet rekindled concerns about Big Tech AI spending.
  3. 03The Nasdaq, S&P 500 and Dow Jones tanked.
NEWS IMPACT AND MARKET REACTIONChange from the reference price
Amazon.com, Inc.AMZNStock239.74 USDMarket closedtoday -1.66%Negative S&P 500INDEX:SP500Index7,560.68+0.34%today -2.07%Negative
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets

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