US Stocks Tumble as Investors Target AI’s Future Losers
U.S. stocks experienced a significant decline as investors reacted negatively to companies perceived as vulnerable to artificial intelligence advancements, with the S&P 500, Dow Jones Industrial Average, and Nasdaq composite all falling. Software companies like AppLovin and Cisco Systems saw substantial drops despite strong quarterly earnings, reflecting concerns that AI may disrupt their business models and increase costs. Conversely, Equinix, a digital infrastructure provider, surged on high demand for its AI-supporting data centers, and retail giants McDonald’s and Walmart also saw gains.
John Q. Hosedrinker