S&P 500, Nasdaq Fall for 2nd Day as Tech Slides on AI Worries Ahead of Google Earnings

💡 The S&P 500 and Nasdaq fell for the second day in a row amid concerns over AI-related losses in the tech sector.

The S&P 500 and Nasdaq fell for the second day in a row amid concerns over AI-related losses in the tech sector. The tech-heavy Nasdaq Composite declined 5.3% over the past two sessions, while the S&P 500 dropped 4.1%.

Tech Stocks Plunge Amid AI Worries

The AI-driven sell-off has been particularly severe, with $NVDA plummeting 14.1% over the past two days. The company's shares have been under pressure due to concerns over the impact of AI on its core business. Other tech giants, such as $GOOGL and $MSFT, have also seen significant declines in recent sessions.

Global Markets React to AI Fears

The sell-off in tech stocks has had a ripple effect on global markets, with the MSCI ACWI declining 2.5% over the past two days. The decline in tech stocks has also led to a sell-off in growth-oriented sectors, such as $XOP and $XLY.

What It Means for Investors