Tech Stocks Plummet: Nasdaq Suffers Worst Day Since 2022 Amid AI Concerns
11 Sources
[1]
$1 trillion rout hits Nasdaq 100 over AI jitters in worst day since 2022 - ET Telecom
Internet 5 min read $1 trillion rout hits Nasdaq 100 over AI jitters in worst day since 2022 The selloff was triggered by a middle-of-the-road earnings report from Alphabet Inc. late Tuesday that featured a bloated capital expense. The company's stock sank more than 5% for its worst performance
[2]
Big Tech selloff slams Nasdaq with worst day since 2022
A stock-market selloff intensified Wednesday, wiping out hundreds of billions of dollars in value from the Magnificent Seven group of tech giants and pushing the Nasdaq Composite to its first decline of 3% or more in 400 trading days. After a frenzy over artificial intelligence sent stocks to new
[3]
Stock market sees worst day since 2022 as Tesla, Google-parent Alphabet sink
Traders work on the floor of the New York Stock Exchange (NYSE) on Monday in New York.Spencer Platt / Getty Images U.S. stocks had their worst day since 2022 Wednesday amid a broad pullback in tech companies as Wall Street traders sought to reduce their exposure to firms that have made big bets on
[4]
Nasdaq drops over 3% to post its worst day since 2022; Alphabet, Tesla, other tech stocks lead sell-off | Stock Market News
US stock market tumbled on Wednesday dragged by a sell-off in megacap technology stocks after disappointing earnings from Google parent Alphabet and electric vehicle maker Tesla. A disappointing start of the megacap earnings season fueled concern over the recent bull rally that was fuelled by the
[5]
Tesla and Alphabet earnings disappoint, triggering sharpest market decline in 2 years
A wipeout on Wall Street sent U.S. stock indexes to their worst day since 2022 as Big Tech dragged the market lower following profit reports from Tesla and Alphabet. The S&P 500 slumped 2.3% Wednesday, its fifth drop in the last six days. The Nasdaq composite skidded 3.6%, and the Dow Jones
[6]
S&P and Nasdaq plunge sharply as Big Tech weighs
STORY: The S&P 500 and Nasdaq suffered their biggest single-day losses in nearly two years on Wednesday, dragged down by the same Big Tech names that had powered this year's rally. The Dow shed one-and-a-quarter percent, the S&P 500 tumbled 2.3% and the tech-heavy Nasdaq nosedived more than
[7]
Wall Street suffers worst day since 2022 as Tesla and Google earnings disappoint
Tech-focused Nasdaq retreats 3.6% and S&P 500 also down in wake of lacklustre results from big-tech companies Wall Street suffered its worst day of trading in 19 months as disappointment around earnings from Tesla and Google challenged the recent big-tech rally. The benchmark S&P 500 index
[8]
S&P 500 suffers biggest drop since 2022 as tech stocks crater
Earnings reports from Google's parent company, Alphabet, and Tesla on Tuesday led to a slump in big tech stocks and the biggest daily decline for Wall Street's major benchmarks in over a year. The S&P 500 fell 2.3% on Wednesday, while the technology-heavy Nasdaq tumbled 3.6%, the biggest drop for
[9]
Stock market today: Nasdaq suffers worst day since 2022 as weak earnings spark steep sell-off | Business Insider India
US stocks dropped on Wednesday, led by a steep sell-off in the tech sector after the first batch of mega-cap earnings disappointed investors. The major indexes all ended the day lower, with the Nasdaq Composite falling more than 3% to notch its worst trading day in since 2022. The S&P 500 dropped
[10]
Megacap stock selloff shows investor concerns about too much tech
July 25 (Reuters) - A tumble in the heavyweight stocks that have powered markets higher this year is highlighting Wall Street's vulnerability to any weakness in the Big Tech trade and causing concerns that over-stretched stocks are in for more turbulence. Disappointing quarterly reports from Tesla
[11]
Wipeout on Wall Street sends S&P 500 down by 2.3% as Big Tech skids
Traders work on the floor at the New York Stock Exchange (NYSE) in N.Y., June 12. Reuters-Yonhap A wipeout on Wednesday sent U.S. stock indexes to their worst losses since 2022 after profit reports from Tesla and Alphabet helped suck momentum from Wall Street's frenzy around
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The Nasdaq 100 experienced a massive $1 trillion rout, marking its worst day since 2022. Tech giants like Tesla and Alphabet led the selloff, driven by disappointing earnings and growing concerns about AI investments.
Nasdaq's Historic Plunge
The Nasdaq 100 index suffered its most significant single-day loss since 2022, wiping out approximately $1 trillion in market value
1
. This dramatic downturn was primarily fueled by disappointing earnings reports from major tech companies and growing concerns about artificial intelligence (AI) investments.Tech Giants Lead the Selloff
At the forefront of this market tumble were tech behemoths Tesla and Alphabet (Google's parent company). Tesla's shares plummeted by 9.7% after reporting lower-than-expected quarterly profits
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. Alphabet's stock also took a significant hit, dropping 7.5% following disappointing ad sales figures3
.AI Jitters and Market Sentiment
Investors' enthusiasm for AI-related stocks, which had been a driving force behind the market's recent rally, began to wane. This shift in sentiment contributed significantly to the selloff
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. The market's reaction highlighted growing concerns about the sustainability of AI-driven growth and the potential for overvaluation in the tech sector.Broader Market Impact
The ripple effects of the tech selloff were felt across the broader market. The S&P 500 experienced a 1.7% decline, while the Dow Jones Industrial Average fell by 1%
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. This widespread decline underscored the significant influence that large tech companies have on overall market performance.Related Stories
Earnings Season Concerns
The disappointing results from Tesla and Alphabet raised concerns about the ongoing earnings season. Investors are now closely watching other major tech companies set to report their earnings, including Microsoft and Meta Platforms
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. The market's reaction to these upcoming reports could potentially set the tone for tech stocks in the near future.Looking Ahead
As the market grapples with this significant downturn, analysts and investors are reassessing their expectations for the tech sector. The focus is now on whether this selloff represents a temporary correction or signals a more prolonged period of volatility in tech stocks. The coming weeks will be crucial in determining the trajectory of the market and the tech industry's role in shaping it.
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