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Tech stocks tumble on concerns over AI spending
Key takeaways
- Traders work after a Federal Open Market Committee (FOMC) meeting on the floor of the New York Stock Exchange (NYSE) in New York, US, on Wednesday 17 June
- The tech-focused Nasdaq index fell about 2% alongside international chipmakers, reigniting fears that dizzying market valuations have finally run out of momentum after a relentless three-month climb.
- At the same time, the newly public SpaceX has faced an incredibly choppy session.
Why this matters: a developing story that could shape the day's news cycle.
Traders work after a Federal Open Market Committee (FOMC) meeting on the floor of the New York Stock Exchange (NYSE) in New York, US, on Wednesday 17 June
Financial markets received a sharp wake-up call on Tuesday following a sudden wave of selling in major technology shares, triggering widespread doubt over the sustainability of the AI boom.
The tech-focused Nasdaq index fell about 2% alongside international chipmakers, reigniting fears that dizzying market valuations have finally run out of momentum after a relentless three-month climb.
Article preview — originally published by BBC News. Full story at the source.
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