Wall Street endured its worst day in a month on Thursday as fears that tech companies are now overvalued loom large
Wall Street came under pressure on Thursday, enduring its worst day in a month as a sell-off of technology stocks intensified.
After an extraordinary rally around hopes for artificial intelligence that propelled global stock markets to record highs, fears that tech firms are now overvalued loom large.
Investors are also braced for the release of a batch of official data on the state of the US economy, amid heightened uncertainty over its strength during the federal government shutdown.
The benchmark S&P 500 and the Dow Jones industrial average each closed down 1.7% in New York on Thursday, while the tech-focused Nasdaq Composite dropped 2.3%.
