Tag: Nasdaq Composite Index

Stocks Sink on Anxiety About Tech and A.I. Spending

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Stocks around the world tumbled on Friday, dragged down by a sell-off in the big technology companies developing artificial intelligence after signs of increasing competition from China intensified investor unease around eye-popping spending on A.I. The S&P 500 fell 1 percent, taking its loss for the week to 1.6 percent, led lower by the biggest tech companies. The tech-heavy Nasdaq Composite index declined 1.4 percent. Stock markets in China, Japan and across Europe also fell. Signs of investor concern were most apparent in the Philadelphia Semiconductor index, a benchmark for…

Interest Rate Jitters Sink the Giants of Tech

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Market whiplash In the span of a month, the bottom has dropped out of the bull-market rally as investors have come to grips with the prospect of “higher for longer” interest rates worldwide. The sell-off in global stocks and bonds picked up steam on Thursday. And weary market watchers will be looking for more hints on the Fed’s view at next week’s Jackson Hole summit of central bankers and policymakers. Technology stocks have been hit particularly hard. The high-flying FANG+ Index — which comprises the largest tech stocks by market…