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Tech stocks slide in Asia and the US as disappointing earnings fuel fears over AI spending

By ChordNews · First written (new coverage , updated )

Asian tech stocks slump as AI rout deepens on disappointing U.S. earnings
Image: investing.com
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Summary

Tech stocks fell in Asia and the US as disappointing earnings deepened investor concern about spending on artificial intelligence. Asian tech stocks slumped as the AI rout deepened. In the US, tech stocks fell sharply as concerns over AI spending intensified, with spending on AI reported to be nearing $1tn. Intel's shares kept falling, and the tech-heavy Nasdaq opened at its lowest level in more than two months. The Financial Times also reported that revelations Anthropic could receive a junk rating after its IPO added to worries about the industry's borrowing spree.

This continues an earlier story: Megacap stocks including Apple and Nvidia drag S&P 500 lower as AI spending fears weigh on markets

Later: Stocks bounce as Apple earnings near and oil falls · Oil prices fall on hopes for US-Iran talks · AI trade turbulence raises doubts over a possible Anthropic IPO · US stocks tumble as Nasdaq has its worst day in 18 months on bets of an AI slowdown after midterm results · Asian Tech Stocks Face Selloff After Worst US Market Rout Since 2020 · AI spending stalls as Anthropic nears its IPO, Ramp data shows

Timeline

  1. Investing.com

    Source ↗

    Investing.com reports that Asian tech stocks slumped as the AI rout deepened on disappointing U.S. earnings.

  2. BBC

    Source ↗

    BBC News reports that U.S. tech stocks saw sharp falls as AI spending nears $1tn, with Intel's shares continuing to fall and the tech-heavy Nasdaq opening at its lowest level in more than two months.

  3. Financial Times

    Source ↗

    The Financial Times reports that U.S. tech stocks tumbled as concerns over AI spending intensified, and that revelations Anthropic could receive a junk rating after its IPO added to concerns over industry borrowing.

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