Nasdaq drops on AI spending worries

The U.S. Nasdaq Index, which focuses on technology stocks, declined by 0.63% to close at 24,980.34 points due to sell-offs by investors amid concerns over increased spending on artificial intelligence and expectations for earnings reports from major companies such as Microsoft, Amazon, Meta, and Apple. Additionally, worries were raised about Alphabet's plan to increase capital expenditures despite ongoing losses, as investors await earnings results from large-cap companies. Conversely, the S&P 500 saw a modest rise of 0.07%, closing at 7,413.30 points, while the Dow Jones Industrial Average increased by 0.46% to reach 51,947.52 points.

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