Investors worry whether hundreds of billions put into AI development will bring the profits companies have promised
An estimated $2 trillion in market value was wiped from the tech-heavy Nasdaq-100 during October as investors grow increasingly skeptical that enormous spending on artificial intelligence will ever pay off.
On Friday, the Nasdaq Composite dropped 2.9% in its biggest one-day fall since June. Over the whole month, the Nasdaq shed about 5.2%, its worst showing since March 2025, while the S&P 500 slipped 1.2%, and the Dow – which includes many traditional businesses – still finished October up 1.5%.
Among the hardest-hit companies was Google owner Alphabet, whose shares plunged 12.6% on Thursday in its worst day on record. The slump was triggered by its earnings showing slower growth in search advertising, its core business.
Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: rt.com
