Tech sell-off drives US markets down by nearly $1tn after subpar earnings reports
Investors are questioning the immediate returns on massive AI investments following disappointing earnings reports from major tech firms. This trend has led to a sharp decline in the Nasdaq composite and the S&P 500, erasing trillions in value over the past month.
Key points
- Nasdaq lost nearly $1tn in value in one week.
- S&P 500 fell by more than 1% on Friday.
- Market decline is driven by concerns over AI investment returns.
- Total tech value erased reached approximately $2tn over a month.
Summary and key points written by AI from the headline and a short excerpt, so they can be incomplete or wrong. The Guardian Technology did the reporting; read the original for the full story.
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