U.S. stocks fall sharply with poor tech results-Xinhua - 新华网
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NEW YORK, Oct. 30 (Xinhua) -- U.S. stocks fell sharply in early trading Friday, with the tech-heavy Nasdaq Composite dropping more than 2 percent, as disappointing earnings reports fueled concerns over the artificial intelligence investment boom.
NEW YORK, Oct. 30 (Xinhua) -- U.S. stocks fell sharply in early trading Friday, with the tech-heavy Nasdaq Composite dropping more than 2 percent, as disappointing earnings reports fueled concerns over the artificial intelligence investment boom.
Intel shares plunged nearly 30 percent after the chipmaker reported disappointing results and issued a weaker-than-expected outlook. Amazon fell 4.4 percent while Alphabet shares had tumbled more than 12 percent on Thursday following weaker-than-expected revenue growth. The declines added to mounting pressure on technology stocks amid concerns over the costs and prospects of AI investment. ■
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