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via finance.yahoo.comMarkets

Tech sell-off could deepen after $1 trillion wiped from the AI trade

FROM THE WIRE · FINANCE.YAHOO.COM

And you thought this week has been painful for the tech trade. If history is any guide, the pain for tech may only be just beginning! The S&P 500 tech sector has seen six pullbacks of 10% or more since 2023, points out Truist chief markets strategist officer (chart below)…

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MARKET IMPACTHIGH✦ News Impact agent estimateTone: expected bearishHeavy AI spending and weaker cash flow at Big Tech weigh on the whole sector and major indices.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01The S&P 500 tech sector has seen six pullbacks of 10% or more since 2023.
  2. 02More than $1 trillion in market value was wiped out Friday as the AI trade sold off.
  3. 03Investors worry that heavy AI spending at Big Tech will not translate into durable profits and cash flow.
NEWS IMPACT AND MARKET REACTIONChange since the story · reference
Amazon.com, Inc.AMZNStock240.35 USDMarket closedtoday -1.41%Negative Alphabet Inc.GOOGLStock279.84 USDMarket closedtoday -1.40%Negative Meta Platforms, Inc.METAStock614.99 USDMarket closedtoday -1.53%Negative S&P 500INDEX:SP500Index7,580.07Market closedtoday -1.82%Negative
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets

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