Nasdaq and Big Tech Sell Off on Results, Spending and Oil Concerns
Tech-heavy Wall Street indices had their worst day in months on Thursday, October 22, as disappointing results from Meta and Tesla, AI spending concerns and rising crude prices weighed on leading technology names.
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11:45:16 PM UTC
SquawkNews
The S&P 500 and Nasdaq ended lower on Thursday as fears of soaring capex among large hyperscalers, along with fresh geopolitical tensions pushing oil prices higher, dampened investor sentiment.The S&P 500 ended Thursday 1.2% lower, the Nasdaq 100 slipped 2.9%, and the Dow Jones Industrial Average w…
Wall Street’s tech-heavy indexes suffered their steepest decline in months on Thursday, October 22. Disappointing results from Meta Platforms and Tesla, AI-company spending concerns and rising crude prices prompted investors to shift out of the outperforming stocks and into dividend…