Wall Street closes sharply lower as AI cash burn fears spark tech selloff
US stock markets experienced a significant decline, with the Nasdaq recording its largest one-day drop since June. The selloff was driven by disappointing quarterly earnings from major tech firms Intel and Amazon, which heightened investor anxiety regarding the profitability of AI investments.
Why it matters
This market movement reflects growing investor skepticism toward the massive capital expenditures currently being poured into artificial intelligence infrastructure.
NEW YORK, Oct 30 (Reuters) - US stocks tumbled on Friday, with the Nasdaq suffering its largest one-day percentage…
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