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US Stocks: Nasdaq Falls as AI Worries Mount Ahead of Pivotal Earning
Investors sold chip shares as worries grew over AI infrastructure costs, Chinese competition and the Federal Reserve’s expected rate decision.
- The Nasdaq fell on Tuesday as investors weighed concerns about hefty corporate spending on AI infrastructure and rising Chinese competition ahead of earnings from major Wall Street companies.
- Global markets have become increasingly volatile this month as investors scrutinize the need for corporate spending on AI infrastructure, while China deepens its presence in the competitive semiconductor industry.
- Chip majors slid on Tuesday, with Micron dropping 6.4 per cent and Nvidia falling 1.2 per cent, while Roundhill's Memory Exchange Traded Fund fell 10 per cent to an over two-month low.
- Broader markets showed mixed results on Tuesday, as Coca-Cola gained 6.3 per cent after raising annual revenue forecasts, helping lift the Dow Jones Industrial Average.
- Investors now turn toward The Federal Reserve meeting on Wednesday, where the central bank is expected to keep interest rates unchanged.
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Wall Street opened mixed this Tuesday and its main indicator, the Dow Jones of Industriales, rose by 0.73%, while the technology Nasdaq lost 0.72%, up to 24,762 units, The markets are waiting for the results of Amazon, Microsoft, Meta and Apple, which will be announced between today and tomorrow, and ... Continue reading "The Nasdaq is headed to its worst month in 22 years and why the AI would be to blame" The post The Nasdaq is headed to its wo…
·Concepción, Chile
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Coverage Details
Total News Sources35
Leaning Left6Leaning Right7Center12Last UpdatedBias Distribution48% Center
Bias Distribution
- 48% of the sources are Center
48% Center
L 24%
C 48%
R 28%
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