{
  "id": 16080157,
  "title": "Wall Street sinks as Nasdaq falls over 2% on AI cost worries",
  "url": "https://urgent.news/2026/10/22/wall-street-sinks-as-nasdaq-falls-over-2-on-ai-cost-worries-16080157",
  "topic": "ai",
  "section": "AI",
  "published": "2026-10-22T17:52:03.000Z",
  "source": {
    "name": "The Korea Times",
    "slug": "the-korea-times",
    "url": "https://www.koreatimes.co.kr/world/20261023/wall-street-sinks-as-nasdaq-falls-over-2-on-ai-cost-worries"
  },
  "original_language": "en",
  "account": "The tech-focused Nasdaq plunged over 2% on Thursday, as growth stocks suffered due to concerns over AI-related expenses, following earnings from major companies like Tesla and Meta that failed to alleviate these worries. The social media giant Meta saw a 5.2% drop after introducing a new class of non-voting shares to help finance its expensive AI expansion, despite reporting strong quarterly revenue and a positive fourth-quarter sales projection. The market decline marked a notable shift from the positive momentum seen on Wednesday, when strong performances from SpaceX and Super Micro led to an AI-driven rally. Investors, however, began to question the substantial capital needed to construct AI infrastructure and the uncertain timeline for its returns. As a result, the Philadelphia Semiconductor Exchange Index faced a potential loss of over $616 billion in market value, while the Nasdaq-100 was expected to lose nearly $1 trillion. The semiconductor index declined 5.6% to its lowest level since July 29, with semiconductors and the Nasdaq having been greatly supported by investor enthusiasm.",
  "summary": "The tech-heavy Nasdaq slid more than 2 percent on Thursday as growth stocks weakened after earnings from mega-caps Tesla and Meta did little to address AI-related concerns, with a recovery in oil prices further adding to market unease. Meta slipped 5.2 percent after the social media giant unveiled a new class of non-voting shares to help fund its costly AI expansion. The decline came despite…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "CNBC",
        "title": "Nasdaq falls more than 2% for worst day since June as AI spending woes, oil prices spark sell-off: Live updates",
        "url": "https://urgent.news/2026/10/22/nasdaq-falls-more-than-2-for-worst-day-since-june-as-ai-spending-woes",
        "published": "2026-10-22T20:04:26.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}