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Intel and Reddit fall 29% in broad U.S. market selloff
Reuters reported a U.S. market selloff that spread beyond technology stocks. Intel and Reddit each dropped 29%, SanDisk fell 13%, and the Nasdaq 100 closed down 3.5%. Large technology stocks extended earlier weekly losses. Investors grew uneasy about the scale and financing of AI infrastructure spending, although some market participants viewed the retreat as a pullback after strong gains.
What to know
- 01
Microsoft, Meta, Amazon and Alphabet shares fell another 1%–2%.
- 02
According to Capital Economics, those four companies accounted for more than one-third of total capital spending by current S&P 500 constituents over the past 12 months.
Why it matters
The technology giants’ large share of S&P 500 capital spending provides context for investor scrutiny of AI investment levels and financing.
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