BTCC
/
BTCC Square
/
Global Cryptocurrency
/
Tech Stocks Slide as AI Sector Concerns Weigh on NASDAQ
Tech Stocks Slide as AI Sector Concerns Weigh on NASDAQ
11
1
BTCCSquare news:
The NASDAQ index dropped nearly 150 points on Wednesday, extending its losing streak as major tech stocks including Tesla, Amazon, Apple, and Alphabet fell more than 1%. The sell-off reflects growing skepticism about AI's profitability after an MIT Nanda survey revealed 95% of AI startups fail, with only 5% turning a profit.
Investors are rotating out of risk assets amid broader macroeconomic uncertainty, including potential trade wars under a TRUMP administration. The AI sector's weak fundamentals are particularly concerning for tech giants heavily invested in the space, with competition intensifying from both startups and established players.
By:
