US tech stocks tumble as investors fret over AI spending
US tech stocks experienced a significant downturn on Thursday, with the Nasdaq Composite falling 2.6 percent, its largest drop since early June.
The story so far
- Oct 22
- Oct 23
How outlets cover it
2 outletsNot rated on the left–right scale. It describes Western party politics and doesn’t fit state media or outlets outside that system, so we show ownership and country instead.
Open questions and key claims
The S&P 500 fell 1.2%, and the Nasdaq composite tumbled 2.6% on Thursday.
Brent crude oil prices reached $113.17 per barrel, their highest level in five months.
Tech-heavy Nasdaq falls 2.6 percent as investors fret over AI spending.
Meta dropped nearly 7 percent after raising projected capital spending to $135bn - $145bn.
Amazon fell 4.6 percent, while Nvidia dropped 4.4 percent.
Lam Research's stock tumbled 11.8% despite reporting stronger-than-expected profit and revenue.