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The Nasdaq 100 is on track to lose more than $2 trillion in market value in October, after falling over 5.8% since the start of the month. Investors’ concerns stem from rising spending by Meta, Alphabet and Amazon on AI infrastructure, amid ongoing questions about the returns on these investments and increasing financing and borrowing costs. In Thursday’s session, Alphabet shares fell 12.7%, wiping about $505 billion off the company’s market value, which dropped from $3.97 trillion to $3.47 trillion.
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