Wall Street sells off: Nasdaq -2.9%, S&P 500 -1.8% on AI spending worries
FROM THE WIRE · FINANCE.YAHOO.COM
The sell-off for tech stocks on Wall Street got even worse on worries that the frenzy around AI sent prices too high. The S&P 500 dropped 1.8% Friday for its worst day since June. The Nasdaq composite fell 2.9%, while the Dow Jones Industrial Average dropped 1.1%. Intel sank…
Read at the source ↗MARKET IMPACTHIGH✦ News Impact agent estimateTone: expected bearishTech sell-off on fears AI valuations are too high weighs on the whole US equity market.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01The S&P 500 fell 1.8% Friday, its worst day since June.
- 02The Nasdaq composite dropped 2.9% while the Dow Jones fell 1.1%.
- 03Intel sank almost 29% after a profit forecast below analyst expectations.
- 04Treasury yields fell even though oil prices rose.
NEWS IMPACT AND MARKET REACTIONChange since the story · reference
Intel Corp.65.76 USDMarket closedtoday -28.58%Negative Amazon.com, Inc.240.35 USDMarket closedtoday -1.41%Negative S&P 5007,560.68Market closedtoday -2.07%Negative NASDAQ Composite25,437.00Market closedtoday -2.86%Negative Dow Jones Industrial Average51,770.31Market closedtoday -1.09%Negative Russell 20002,811.84Market closedtoday -1.66%Negative
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets