US tech stocks tumble as AI spending worries hit Nasdaq 100
Briefing by News4U · First published
US technology stocks fell sharply on Friday, with the Nasdaq 100 dropping 3.5% and the S&P 500 declining 1.8% amid concerns over AI spending and weaker core business results at major tech firms. Intel plunged 29%, its largest single-day drop, while AMD and Nvidia fell 11% and 4.2% respectively. Alphabet and Amazon also declined, contributing to broad losses across the so-called Magnificent Seven group. The Philadelphia Semiconductor Index dropped 7.2%, crossing below its 200-day moving average for the first time since June 2025. Analysts noted that the heavy weighting of tech stocks in major indices could weigh on the broader market ahead of next week’s midterm elections. [1] [2]
Sources
- 快讯
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