US tech stocks tumble as investors fret over AI spending
US technology shares fell sharply on Thursday as investors questioned whether the sector's heavy spending on artificial intelligence can be sustained. The sell-off hit the Nasdaq Composite particularly hard, with the index dropping 2.6 percent, while the broader S&P 500 fell 1.21 percent. The decline was led by some of the biggest names in the market, including Meta, Amazon, Nvidia, Tesla, Alphabet and Microsoft.Meta was the weakest of the group, falling nearly 7 percent after it raised its projected capital spending for the year to between $135bn and $145bn in its latest earnings report. That came even as the company's... [Continue Reading]
360LiveNews | 23 Oct 2026 05:03 LONDON
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