As U.S. markets opened, IT giants like Nvidia, Apple, and Amazon lost about $1 trillion in market capitalisation combined, exacerbating the Nasdaq's decline. The sell-off was driven by worries about a recession and unsatisfactory economic data; Nvidia, the largest AI benefit, saw a significant decline. Experts caution against possible overspending on AI while general market downturn and investor trepidation continue.
As U.S. markets opened, IT giants like Nvidia, Apple, and Amazon lost about $1 trillion in market capitalisation combined, exacerbating the Nasdaq's decline. The sell-off was driven by worries about a recession and unsatisfactory economic data; Nvidia, the largest AI benefit, saw a significant decline. Experts caution against possible overspending on AI while general market downturn and investor trepidation continue.