Wall Street’s tech sell-off deepened on Friday as investors questioned whether massive spending on artificial intelligence will deliver enough returns to justify lofty valuations. The S&P 500 fell 1.8% and the Nasdaq 2.9%, with Intel plunging nearly 29% and Nvidia down 4.2%, while bitcoin also slid after a major hack at Binance.
Wall Street’s tech sell-off deepened on Friday as investors questioned whether massive spending on artificial intelligence will deliver enough returns to justify lofty valuations. The S&P 500 fell 1.8% and the Nasdaq 2.9%, with Intel plunging nearly 29% and Nvidia down 4.2%, while bitcoin also slid after a major hack at Binance.
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