Nasdaq 100 in US$1 trillion tailspin

Quick Summary:

Investors have soured on the promise of artificial intelligence (AI), sparking a US$1 trillion rout in the Nasdaq 100 Index as questions swirl over just how long it will take for the substantial investments in the technology to pay off.

Specifically, investors appear to be listening to growing chatter in some Wall Street circles that the AI rally that fuelled a bubble that added US$9 trillion in value to the S&P 500 in the past year is bound to burst.

That’s raised the stakes for earnings at an awkward time, with profit growth for the tech giants set to slow.

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Article Details

Category: EconomyBusiness

Markets: Malaysia

Topics: /Business/Business News Markets AITechnology NasdaqRout EarningsReport TechSellOff Investors AIInvestments

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-26 @ 00:00:00 (7 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 1048 words

Reading Time: 6 minutes read

Sentences: 40 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 21777529

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