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The ‘dumb money’ steps in as traders lose $1 trillion on the realization that AI will eat tech companies first | Fortune
The chaos is mostly a tech-stock phenomenon. The equal-weight S&P 500 is actually at a record high.
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fortune.com
Tech stocks go into free fall as it dawns on traders that AI has the ability to cut revenues across the board | Fortune
Tech companies are waking up to the fact that AI may be more likely to replace them than help them.
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telegraph.co.uk
Tech stocks plunge as AI fears take hold
As much as $800bn wiped off software-heavy Nasdaq index in New York as traders mount firesale
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The ‘dumb money’ steps in as traders lose $1 trillion on the realization that AI will eat tech companies first | Fortune
The chaos is mostly a tech-stock phenomenon. The equal-weight S&P 500 is actually at a record high.
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Trillion-dollar tech wipeout ensnares all stocks in AI’s path | Fortune
Software stocks plunged so much that the value of those tracked in an iShares ETF has now dropped almost $1 trillion over the past seven days.
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Rout deepens on Wall Street as tech, crypto slide | Fortune
A slump in technology stocks snowballed into Asia as mounting anxiety over frothy valuations and massive AI spending drove investors to trim exposure.