Lates News

The Nasdaq 100 Index fell as much as 4.5% intraday on Friday, pulling back more than 10% from its recent high and facing its third technical correction this year. The index fell about 3% for the week, as disappointing earnings from Google parent Alphabet (GOOG.O), Amazon (AMZN.O), Intel (INTC.O) and ServiceNow triggered a selloff in technology stocks. The market has begun to re-examine the return on AI investment, and rising financing needs among technology companies have also exacerbated volatility in the sector. Market strategists noted that investors no longer assume AI investment will inevitably deliver rich returns, but are instead starting to focus on return on capital and whether the principal can be recovered. The last time U.S. stocks saw three or more 10% swings within a year was in 2022.