Intel and Amazon unleash another wave of declines in tech stocks
The wariness towards tech companies is increasing with the slumps that Amazon and Intel anticipate for today, their spending on AI is once again generating doubts among investors. Asian equities are deepening their falls, and the Nasdaq is worsening its correction.
Amazon and Intel's stock prices are plummeting, with Amazon down 6.6% and Intel down 23% in after-hours trading on Wall Street. The companies' high spending on artificial intelligence is sparking concerns among investors. The Nasdaq index is also experiencing significant losses, down nearly 2% ahead of today's opening, and has now corrected by around 7% from its record high three weeks ago. Asian markets are also seeing sharp declines, particularly in Japan and Korea, which have high exposure to tech and AI stocks.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
