In brief
U.S. stocks fell sharply on Friday after disappointing tech earnings, with the Nasdaq Composite down more than 2%. Intel shares plunged nearly 30% and Amazon and Alphabet also slid, amid concerns that the high costs of AI investment are weighing on investors. Nasdaq futures mirrored the sell‑off, falling over 2% as investors weighed the new earnings reports.
U.S. stocks fell sharply on Friday after tech giants released disappointing earnings, according to Xinhua. The Nasdaq Composite slid more than 2%, while Intel shares plunged almost 30% following a weaker‑than‑expected outlook.
In the same session, Amazon fell 4.4% and Alphabet shares tumbled over 12% after weaker‑than‑expected revenue growth, adding to the pressure on technology stocks.
Earlier, Nasdaq futures fell more than 2% as investors reacted to Amazon’s plans for continued heavy artificial intelligence spending and Intel’s warning of a cash burn this year, Reuters reported.
These moves highlight growing concern among investors that the costs and prospects of AI investment may weigh on future profits, tightening sentiment across the tech sector.
