US tech stocks fall as AI spending worries and rising oil prices weigh on markets
Briefing by News4U · First published
Major US indices dropped Thursday after Meta and Tesla results raised concerns over AI costs and oil prices climbed on Middle East tensions.
US stocks fell Thursday as investors reacted to mixed tech earnings and rising oil prices amid Middle East tensions, with the S&P 500 dropping over 1.4 percent and the Nasdaq Composite falling 1.3 percent. [1] [2] [3]
Meta shares slumped 6.7 percent after the company raised its AI spending forecast, while Tesla shares declined 1.3 percent following lower profits and a reduced capital spending outlook. [2]
Analysts noted that investors are increasingly focused on how AI investments will be financed and whether they will generate returns. [2]
Sources
- Nasdaq 100 Drops 3% as Risk-Off Dominates With Oil Prices Rising
Bloomberg · · Summary only
- Stocks retreat as tech mood sours, oil prices jump
RTHK Finance · · Excerpt
- Stocks See Steepest Decline in Months Amid A.I. Worries
NY Times · · Summary only