FT: Nvidia drops 10% as Big Tech risks hit Wall Street
US stock markets faced their toughest streak since October 2022 as investors turned away from AI bets. Nvidia's shares plummeted by 10%, contributing to the market's decline. Tech giants like Netflix also saw significant drops, with the Nasdaq Composite down 2.1%. Stocks driven by AI enthusiasm, including AMD and Meta, also fell sharply. Investor concerns over Big Tech earnings and geopolitical tensions added to the market's unease, despite steady dollar index and modest oil price rises.
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By George Steer in New York
US stock markets suffer their worst run since October 2022 as investors pull back from AI bets
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