Atlanta Economic Times-" Shares fall in the US and Asia as AI stocks collapse."

As investors sell shares in technology companies, financial markets in the United States and Asia have experienced sharp declines, with artificial intelligence (AI) stocks particularly hard hit.

The S&P 500 fell by 2.3% and the Nasdaq, which is dominated by technology, fell by 3.6% during trading on Wednesday, marking their largest one-day losses since 2022. 1.2% of the Dow Jones Industrial Average went down.

Major companies like Nvidia, Alphabet, Microsoft, Apple, and Tesla were to blame for the losses.

Japan's Nikkei index fell by more than 3% on Thursday, leading Asia's declines. Shares in innovation organizations, particularly those connected with simulated intelligence, have driven quite a bit of the current year's financial exchange gains.

The shares of AI chip giant Nvidia, which has benefited greatly from the AI boom, dropped 6.8%. In the past two weeks, it has lost approximately 15% of its value.

At the end of August, the business is scheduled to release its financial results.

After Tesla's most recent financial results disappointed investors, shares of Elon Musk's multi-billionaire company fell by more than 12%.

The stock price of Google and YouTube's parent company, Alphabet, decreased by 5%. The company announced earlier this week that its financial results exceeded the expectations of analysts, but that its spending would remain high for the remainder of 2024.

Letters in order, in the same way as other of its rivals, has been siphoning billions of dollars into the turn of events and reception of simulated intelligence innovation.

In Asia, chip creators Renesas Hardware and Tokyo Electron in Japan and South Korea's SK Hynix were among the large fallers.

"Financial backers are presently turning out to be more worried about this consumption with man-made intelligence without the income benefit," said Jun Bei Liu, Portfolio Director at Tribeca Speculation Accomplices.

"I don't think this will stamp the beginning of the skepticism in artificial intelligence... it basically implies financial backers will zero in additional on returns here than simply purchasing the entire area," she added.

Due to major surprises in the US presidential election campaign and the timing of a cut in interest rates by the US central bank, investors are also wary.

Presented By "Kennedy Lucas & Associates

BY K.L.P Entertainment

Atlanta Economic Times-" Shares fall in the US and Asia as AI stocks collapse."

Recent Posts

Comments

Build