US Stocks Tumble as AI Spending Fears Spark Tech Selloff
US stocks tumbled and the Nasdaq posted its steepest drop since early June as high-profile earnings reports ignited fresh fears over heavy AI spending. Meanwhile, crude prices rose to a five-month high following new geopolitical strikes in the Middle East.
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United States stocks fell sharply on Thursday, with the Nasdaq posting its steepest daily drop since June as high-profile earnings sparked fresh doubts about AI spending. The Nasdaq tumbled 2.6% while the S&P 500 ended deep in negative territory. The selloff erased billions in market value as investors scrutinized ballooning artificial intelligence expenditures against near-term returns.
