S&P, Nasdaq drop on tech selloff as concerns about hawkish Fed, AI spending mount

Live updates

1. 1h ago

   S&P 500 and Nasdaq Fall Amid Tech Selloff and AI Valuation Doubts

   The S&P 500 and Nasdaq declined as investors sold off chipmakers and megacap technology stocks. Market participants are questioning high AI valuations and anticipating a hawkish Federal Reserve. Other indexes showed resilience, with the Dow Jones Industrial Average posting gains.

   What's confirmed:

   • The S&P 500 and Nasdaq fell due to a sell-off in technology and chip stocks.
   • Investors are skeptical of high artificial intelligence valuations.
   • The Dow Jones Industrial Average rose 87.33 points, or 0.17 per cent, to 51,936.23.

   Still unconfirmed:

   • Federal Reserve Chair Kevin Warsh stated inflation risks have decreased.
   • The S&P 500 slipped 0.2% Wednesday for its eighth loss in 11 days.
   confidence 80%
2. 5d ago

   Tech Sell-Off Drags Down Major US Indices

   The S&P 500 and Nasdaq fell as a broad sell-off in technology and chip stocks hit markets. Investors are reacting to a cooling AI trade and expectations of a hawkish Federal Reserve. Defensive stocks saw gains while Big Tech companies experienced sharp drops.

   What's confirmed:

   • A sell-off in technology stocks dragged down the S&P 500.
   • The Nasdaq and S&P 500 fell to over one-week lows on Tuesday.
   • Nvidia, Micron, and AMD led the tech sell-off.
   • The Dow fell 200 points as chip stocks extended their retreat.
   • Markets are reacting to a cooling AI trade and hawkish Federal Reserve bets.

   Still unconfirmed:

   • Nasdaq futures fell 2% on tech worries and Fed hike bets.
   • The Dow slipped 45 points as the tech sell-off deepened.
   confidence 90%