US tech stocks fall sharply as Nasdaq tumbles
US technology shares dropped sharply, with the tech-heavy Nasdaq index tumbling, news organisations reported.
AI illustrationUS technology stocks fell sharply, with the tech-heavy Nasdaq index tumbling, news organisations reported.
The drop in the index reportedly exceeded 600 points. Its opening level was reportedly the lowest in more than two months, and Intel shares reportedly kept falling.
The falls were linked to fears over AI costs, according to reports. Earnings reports from Alphabet, Amazon and Intel were reportedly disappointing, and reportedly renewed fears of the AI trade unravelling.