Losses spread globally as investors questioned soaring valuations and spending on AI infrastructure

A tech sell-off shook global markets on Tuesday as attention turned away from developments in the US war with Iran and toward the future of AIcompanies and chipmakers that have driven stock markets to record highs.

The tech-heavy Nasdaq index opened 2% lower on Tuesday. The Dow and S&P 500 were also down at opening.

All three major US indices have hit record highs this year, riding off a rush of funding to support AI technology and infrastructure. Nasdaq is up 10% for the year, while the Dow jumped 6% so far this year, breaching past 51,000 points, and the S&P 500 is up 7.3%.

  • iconic_admin@lemmy.world
    8·
    2 days ago

    I’m on the nothing ever happens train. The market fluctuates. Space x was down below offering then it was up again, now it’s at like 156. The market goes down it goes up. Nothing changes.