Nasdaq, S&P 500 end lower on renewed AI growth worries ahead of big tech earnings - Reuters
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- Nasdaq faced a setback to closing lower, threatening its longest winning streak since 1992
- S&P 500 stayed above the 7,100 level but slipped modestly as AI concerns rose
- OpenAI missed its sales and user targets, according to a recent report
- Oracle pledged backing for OpenAI after the revenue miss, joining CoreWeave in support
- CoreWeave also backed OpenAI, signaling confidence despite the miss
- Yahoo Finance reported that AI investors remain bullish despite OpenAI’s revenue shortfall
- Axios noted that tech stocks slid across the board after the OpenAI report
Why it matters: Tech investors see a dip as Nasdaq's 31‑year winning streak stalls and the S&P 500 hovers above 7,100, forcing a reassessment of AI‑driven valuations in the market.
