Nasdaq Drops 2.5% for the Week as AI Spending Fears Hit Tech Stocks

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โดย The Motley Fool·Read original
Summary · why it matters

The Nasdaq Composite fell 2.5% for the week, while the Dow Jones Industrial Average held nearly flat with a 0.4% decline and the S&P 500 lost 1.1%. Friday's session saw the Nasdaq down 1.1% and the S&P 500 off 0.7%, though the Dow limited its loss to 0.3% thanks to a 7.9% surge in Travelers after it reported earnings of $10.26 per share, nearly double analyst expectations. The week began with a historic crash in South Korean markets that triggered circuit breakers and sent SK Hynix tumbling, and continued with IBM's worst day since 1987 after it said customers were redirecting software budgets to hardware. Taiwan Semiconductor Manufacturing's raised capital expenditure forecast of up to $64 billion stoked fears that AI infrastructure spending is becoming unsustainable, contributing to a sell-off that hit Alphabet, Meta Platforms, and Netflix. Oil prices surged 3.6% as the U.S.-Iran conflict escalated with a sixth consecutive night of U.S. strikes and reports that Tehran asked Houthi allies to close the Red Sea.

Impact on stocks 10

Semiconductors▼ · 2 stocks
SK Hynix Inc
000660
▼ NegativeDemandrelevance

Historic crash in South Korean markets triggered circuit breakers, sending SK Hynix tumbling.

Artificial Intelligence▼ · 2 stocks
Alphabet Inc Class C
GOOG
▼ NegativeCapitalrelevance

TSMC's raised capex forecast stoked fears of unsustainable AI spending, contributing to a sell-off that hit Alphabet.

Quantum Computing▼ · 1 stocks
Climate Adaptation & Water▲ · 1 stocks
The Travelers Companies Inc
TRV
▲ PositiveCapitalrelevance

Travelers reported earnings of $10.26 per share, nearly double analyst expectations, causing a 7.9% surge.

Spatial Computing / AR/VR▼ · 1 stocks
Meta Platforms Inc.
META
▼ NegativeCapitalrelevance

TSMC's raised capex forecast stoked fears of unsustainable AI spending, contributing to a sell-off that hit Meta Platforms.

Communication Services▼ · 1 stocks
Netflix Inc
NFLX
▼ NegativeCapitalrelevance

TSMC's raised capex forecast stoked fears of unsustainable AI spending, contributing to a sell-off that hit Netflix.

Space Economy▲ · 1 stocks
Aging Population▲ · 1 stocks
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