U.S. tech stocks tumbled sharply, with the Nasdaq experiencing its largest one-day decline in over six months
2026-10-23 04:49:06
According to CoinMeta, and as reported by Bloomberg, due to market concerns about the sustainability of artificial intelligence (AI) spending, U.S. tech stocks tumbled significantly. The Nasdaq index fell 2.6% on Thursday, while the Dow Jones index rose 0.02%. Meta's stock price dropped by 7%, as its profits fell short of expectations and it was revealed that the company will incur substantial additional expenses in the future. NVIDIA CEO indicates that AI lacks sufficient capital support for Neoclouds growth. The stock prices of SpaceX, NVIDIA, and CoreWeave all declined, and the Philadelphia Semiconductor Index fell 6.7%. American investors turned to the bond market, leading to a decrease in the yield of U.S. Treasury bonds.
Source:Internet
This content is for market information only and does not constitute investment advice.
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