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The technology trade that has powered much of this year’s stock-market rally came under renewed pressure, as investors questioned whether heavy artificial-intelligence spending by the biggest tech companies will translate into profits—or consume cash that might otherwise go to shareholders.
The Nasdaq Composite fell 2 percent for the week, the weakest among the major U.S. stock indexes, after several technology bellwethers posted earnings that missed elevated expectations.
The selloff intensified Friday after reports from Amazon and Intel deepened concerns about slowing growth in parts of the tech sector and higher AI-related capital spending.
The Dow Jones Industrial Average declined 0.85 percent for the week to 51,770, while the S&P 500 slipped 0.57 percent to 7,580. …
The Nasdaq Composite fell 2 percent for the week, the weakest among the major U.S. stock indexes, after several technology bellwethers posted earnings that missed elevated expectations.
The selloff intensified Friday after reports from Amazon and Intel deepened concerns about slowing growth in parts of the tech sector and higher AI-related capital spending.
The Dow Jones Industrial Average declined 0.85 percent for the week to 51,770, while the S&P 500 slipped 0.57 percent to 7,580. …
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