Nasdaq Drops Over 3% as Tech Selloff Spreads — SkimNews
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- Nasdaq dropped over 3% amid growing doubts about AI spending, marking a steep decline in tech-heavy equities
- Tech stocks tumbled broadly as investors dumped shares, citing an 'AI reckoning' that shifted capital toward safer assets
- S&P 500 declined alongside the Nasdaq, though the broader market showed relative resilience compared to tech-focused indexes
- Dow Jones Industrial Average tanked in tandem with other major indexes, reflecting widespread risk-off sentiment on Wall Street
Why it matters: The sharp tech sell-off shifts investor focus from AI-driven growth bets to safer assets, altering the momentum that propelled major indexes this year. With the Nasdaq down over 3%, capital reallocation pressures intensify for funds overweight in big-tech names.
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