Tech Stocks Face Significant Losses Amid AI Concerns and Economic Worries
Recent trading sessions have seen a steep decline in tech stocks, marking the worst week since April for major indices including the Nasdaq, S&P 500, and Dow Jones. A staggering $900 billion was wiped off the market as investors reacted to concerns over job losses and high valuations of AI companies. Nvidia experienced a notable drop of up to 4.2% following earnings reports. The tech-centric sell-off has been compounded by bleak job news and warnings from banking CEOs about potential market corrections, suggesting an ongoing reevaluation of the once-optimistic tech boom amid rising fears of an AI bubble.
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