Economic TimesLean R·
US stocks today: Nasdaq plunges 2% as tech earnings spark AI spending worries
Wall Street indexes closed lower on Thursday with Nasdaq sinking more than 2% as the latest earnings updates from large technology companies revived concerns about heavy AI spending, while soaring oil prices amped up inflation worries, lifting bond yields.Losses were broad-based after investors were unimpressed by second-quarter results from Alphabet and Tesla , the first of the heavyweight "Magnificent Seven" companies to report results this season.Stocks also came under additional pressur…
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