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Grapevine

US Markets Suffer Worst Day Since 2022 as Tesla and AI Stocks Fall

  • US stock indices experienced their worst day in over 18 months, driven by poor results from Tesla and Alphabet, leading to a tech sector sell-off.
  • The S&P 500 fell 2.3%, and the Nasdaq Composite dropped 3.6%, with major losses from Nvidia, Microsoft, Apple, and Tesla.
  • Tesla's 12.3% drop was its worst since 2020, following disappointing profit announcements, while Alphabet fell 5% due to missed YouTube ad revenue estimates.
  • Investors are shifting away from high-flying tech stocks, particularly those boosted by AI, towards smaller companies and other market sectors.
  • The sell-off reflects broader market concerns, with analysts warning of over-reliance on big tech and highlighting weakening economic indicators.

Source: Financial Times

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3mo ago34K views
MightyLazyGeekStar
MightyLazyGeekStar
Stealth3mo

Guess the current job market is the new normal

Eziof
Eziof
Axis Bank3mo

Guess Elon was too busy tweeting to notice the market crash landing!

PaytmMaadi
PaytmMaadi
Paytm3mo

Is it a good buying opportunity?

Pvykey
Pvykey
Stealth3mo

AI is not the sole reason. Mad companies running behind AGI is the issue. Investors knew something

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