From mint · · 40s
Nasdaq 100 Correction from AI Fears
Nasdaq 100 drops 1.4% as AI spending worries trigger tech correction.
In brief
Nasdaq 100 drops 1.4% as AI spending worries trigger tech correction. The Nasdaq 100 entered a correction after megacap results amplified AI cost concerns. Originally reported by mint.
Nasdaq 100 Correction
The Nasdaq 100 Index tumbled into a correction on Monday.
1.4% Drop to 27,989.82
The tech-heavy index fell 1.4% to 27,989.82, down 10% from Oct. 6 peak.
AI Spending Worries
Investors grow concerned about AI buildout costs and delayed payoffs.
Megacap Results Impact
Alphabet Inc. and Meta Platforms Inc. slumped after weak earnings reports.
The short version
The Nasdaq 100 entered a correction after megacap results amplified AI cost concerns.
