Wall Street tumbles as AI spending fears spark tech selloff
US stocks tumbled on Friday as disappointing results from Intel and Amazon amplified worries over AI spending. The Nasdaq suffered its largest drop since June.
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United States stocks tumbled on Friday, with the Nasdaq sliding 2.9% following disappointing quarterly results from Intel Corp and Amazon.com Inc that fueled tech-sector selloffs. The drop marked the Nasdaq's largest one-day percentage decline since June 5, driven by investor anxiety over heavy artificial intelligence spending.
