Tech Stocks Slide
The Dow Jones Industrial Average slid 1.34%, or 669.52 points, ending the session at 49,451.88.
The Nasdaq Composite tumbled 2.03%, or 469.32 points, settling at 22,597.15, while the S&P 500 lost 1.57%, or 108.72 points, closing at 6,832.75.
The Volatility Index (VIX), commonly referred to as the "fear index," surged markedly by 16.83% to reach 20.62 points.
Shares of Nvidia declined 1.6%, Amazon retreated 2.2%, Intel dropped 3.7%, and Apple shed 5%.
Meanwhile, previously owned home transactions in the United States decreased more than anticipated in January, plunging 8.4% compared to the prior month to an annualized pace of 3.91 million units.
Initial jobless claims in the US fell by 5,000 to 227,000 last week; however, the reading exceeded analysts’ projections.
Technology equities encountered pronounced selling momentum amid mounting doubts about the profitability of AI infrastructure expenditures.
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