S&P and NASDAQ Downgrade on AI Concerns

On Thursday, U.S. stocks declined sharply, with the Nasdaq experiencing its largest drop since June, due to fears of a slowdown in the AI technology spending race following major company earnings reports. Meta’s stock fell despite surpassing expectations, primarily because of its investments in artificial intelligence and the issuance of non-voting shares to raise capital. The S&P 500 decreased by 1.19%, and the Nasdaq by 2.58%, while the Dow Jones saw a slight gain. This occurred amid rising doubts and concerns about the future of artificial intelligence and its impact on the markets.

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