Nasdaq Falls 2.6% as AI Trade Worries Hit Tech Stocks, Meta Drops
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TLDR The Nasdaq fell 2.6% on Thursday as AI trade worries returned after Tesla and Meta earnings. Meta dropped nearly 7% and CoreWeave sank 10%, while Blackstone climbed 8%. Brent crude rose to $113 a barrel after reports of possible renewed attacks on Iran. Tech steadied slightly on Friday, but the Dow fell 1.2%, or 653 points. Alphabet, Amazon, and Microsoft report earnings next week, along with a Federal Reserve rate decision. US stocks fell on Thursday as worries about the AI trade returned. Tech shares led the drop after earnings from Tesla and Meta. The S&P 500 fell more than 1%, and the Nasdaq Composite lost 2.6%. The Dow Jones Industrial Average was little changed. Semiconductor stocks dropped, reversing gains from Wednesday.
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