The Guardian · AI
Tech stock slide wipes nearly $1tn from Nasdaq in a week
Disappointing earnings from major technology companies intensified a stock sell-off as investors questioned how quickly heavy AI spending could deliver returns. The tech-heavy Nasdaq lost nearly $1tn in value over a week and about $2tn over a month. On Friday, the Nasdaq composite fell more than 3%, while the S&P 500 declined more than 1%.
Source published: Brief prepared:
What to know
- 01
Nasdaq shed nearly $1tn in value over a week and about $2tn over a month.
- 02
The S&P 500 reached a record high in October but was on course Friday to lose its gains for the month.
Why it matters
The sell-off highlights investors’ scrutiny of technology earnings and how quickly AI investment can generate returns.
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