ETFs & Funds
Home›ETFs & Funds›Equity Funds›Global tech selloff deepens as AI spending concerns tr…
Global tech selloff deepens as AI spending concerns trigger market rout
Global tech stocks extended their losses on Friday as disappointing corporate earnings and mounting concerns over AI spending triggered a broad selloff across US, European and Asian markets, according to a report by the Financial Times. Nasdaq futures fell 2% ahead of Wall Street's opening, while S&P 500 futures declined 0.9%, following a sharp retreat in technology shares on Thursday. Alphabet plunged 13%, erasing approximately $500bn in market value, as investors questioned the sustainability of its AI investment programme and the impact of AI-powered search on its advertising business. The
Latest closeS&P 500 7,722.60 ▲0.6%|Nasdaq Comp. 26,477.81 ▲1.2%
← Newer storyHedge funds increase China bond bets as equity selloff drives ETF inf…Older story →Binance suspends withdrawals following record $6.3bn cryptocurrency h…