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AI Under Fire in $3T Rout
Global markets plunged sharply on Friday, extending Wall Street’s losses, which wiped more than $3 trillion from the market value of S&P 500 companies. The Nasdaq fell 5.5% and the S&P 500 dropped 4.4%, while Japan’s Nikkei fell about 6% and South Korea’s Kospi lost 8.55%. Technology and semiconductor stocks led the declines, amid concerns that AI companies are overvalued and that returns may not justify the massive investments in data centers, as well as worries about possible U.S. restrictions and corporate results falling short of expectations.
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