Nasdaq falls 3% amid AI profitability fears in its worst day since June
Wall Street suffered another session of sharp declines driven by big tech and doubts over the profitability of artificial intelligence investments. The Nasdaq fell as much as 3%, its biggest daily drop since early June, while the S&P 500 lost 1.41% and the Dow Jones limited losses to 0.20%. Selling pressure concentrated on semiconductors: the Philadelphia Semiconductor index plunged 6.3%. Meta led the declines with a 7.5% drop after announcing new multibillion-dollar AI investment commitments.
In 40 seconds
- The Nasdaq fell as much as 3%, its worst session since early June; the S&P 500 lost 1.41% and the Dow Jones 0.20%.
- The Philadelphia Semiconductor index plunged 6.3% and Meta led declines with a 7.5% drop after announcing new AI investments.
- The yield on the 10-year US Treasury fell 17 basis points to 4.95% amid a flight to safety.
Read the full story at El Economista
IASummary generated by artificial intelligence from a story by El Economista. It may contain errors: the original source prevails.
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