US stocks fall as AI doubts trigger tech selloff
Briefing by News4U · First published
US stocks tumbled Thursday as AI spending concerns triggered a 2.6% Nasdaq drop and a 6.7% plunge in the semiconductor index.
US stocks tumbled on Thursday as AI spending concerns triggered a sharp tech selloff, with the Nasdaq Composite falling 2.6 percent to 26,008 and the Philadelphia SE Semiconductor Index plunging 6.7 percent, its biggest daily drop since June 23, RTHK Finance reported. [1]
Meta Platforms shares slid 7 percent after the company posted its first cash outflow in more than a decade due to AI-related expenditures, while Tesla shares fell 3.1 percent despite positive free cash flow and reduced 2026 capital spending plans. [1]
Sources
- US stocks fall as AI doubts ignite tech selloff
RTHK Finance · · Excerpt