Alphabet's Earnings Spark AI Concerns, Tech Sell-off
Alphabet's disappointing earnings report sent its shares plunging over 12%, leading to a broad sell-off in tech stocks, particularly in the AI sector. The Nasdaq Composite Index fell over 1.4%, with investors expressing concerns about the profitability of AI investments. The decline was so significant that it offset gains in other sectors, pulling the S&P 500 down by 0.3%. The sell-off was so severe that it even led to a decline in the broader market, with the Dow Jones Industrial Average falling by 0.3%.118 sourcesSee all sources