Stock market today: Nasdaq dives over 3%, S&P 500 and Dow tank as AI reckoning grips Wall Street

Live updates

1. 1h ago

   Nasdaq Dives Over 3% As Tech Rout Hits Wall Street

   The Nasdaq plunged over 3% while the S&P 500 and Dow dropped sharply as a major tech rout gripped Wall Street. Disappointing earnings reports from Amazon and Intel triggered the broad market selloff. Technology stocks are on track to erase more than $1 trillion in market value. Investor anxiety is intensifying around artificial intelligence expenditures as Wall Street enters a cautious phase regarding technology sector returns.

   Why it matters

   Market participants are questioning whether massive capital investments in artificial intelligence will yield immediate financial returns. This reassessment follows weaker corporate earnings updates from major technology firms. The downturn highlights growing skepticism across equity markets about the timeline for tech sector profitability.

   What is confirmed

   • The Nasdaq dropped over 3% during the market selloff.
   • The S&P 500 and Dow also experienced steep declines.
   • Amazon and Intel earnings reports fueled the tech rout and falling futures.
   • Technology stocks are set to wipe out more than $1 trillion.

   What to watch next

   • Further earnings reports and market reactions from major technology companies
   • Shifts in investor sentiment regarding artificial intelligence spending timelines
   Sources used for this update (5)

   1. CNBC — Nasdaq-100 futures fall as Amazon and Intel swoon after earnings: Live updates
   2. Yahoo Finance — Stock market today: Nasdaq dives, S&P 500 and Dow fall as Amazon, Intel earnings fuel tech rout
   3. NBC News — Tech stocks set to wipe out more than $1 trillion as concerns deepen about the AI boom
   4. Yahoo Finance — Stock market today: Nasdaq dives over 3%, S&P 500 and Dow tank as AI reckoning grips Wall Street
   5. Bloomberg.com — Tech Stocks Plunge as Wall Street Enters ‘Show Me’ Phase
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