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Stock Market Today: SpaceX Inches Up; Nasdaq, S&P 500 Fall as AI Fears Grow

The Nasdaq tumbled more than 2% in opening trades as a global sell-off hit technology stocks. Investors are concerned about AI valuations and spending. The S&P 500 also declined due to the retreat in semiconductor shares.

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What changed

A broad tech sell-off has replaced previous AI-driven momentum, dragging down the Nasdaq and S&P 500.

Live updates

  1. Nasdaq and S&P 500 Sink as Global AI Tech Sell-Off Deepens

    The Nasdaq tumbled more than 2% in opening trades as a global sell-off hit technology stocks. Investors are concerned about AI valuations and spending. The S&P 500 also declined due to the retreat in semiconductor shares.

    What's confirmed:

    • The Nasdaq fell more than 2% in opening trading.
    • A global sell-off is impacting technology stocks.
    • Concerns over AI spending and valuations are driving the tech retreat.
    • The S&P 500 and Nasdaq have both declined as the AI trade cools.

    Still unconfirmed:

    • The South Korean market plunged 10%.
    • SpaceX stock surged on Tuesday but turned lower on Wednesday.
    • The Dow Jones index rose before a Fed decision and comments from Fed Chair Warsh.
    confidence 80%