Dow Jones crashes 500 points, S&P 500, Nasdaq plunges more than 1% as tech sell-off continues and hopes for rate cuts fade

Wall Street’s major indexes fell on Friday as technology stocks came under renewed selling pressure, while hawkish comments from Federal Reserve officials added to doubts about a December interest rate cut.At 9:36 a.m. ET, the Dow Jones Industrial Average fell 568.05 points, or 1.24%, to 46,889.17, the S&P 500 lost 73.29 points, or 1.09%, to […]

S&P 500 and Nasdaq fall as AI valuation concerns resurface; End of government shutdown in sight

The S&P 500 and Nasdaq fell on Tuesday as concerns about high technology valuations resurfaced, while markets closely watched progress toward the end of the longest government shutdown in U.S. history.Damping sentiment, a weekly update to ADP’s preliminary payroll figures showed that private employers cut an average of 11,250 jobs per week for the four […]

Fab 7 is not a bubble: Anurag Singh of Ansid Capital says big tech still has legs, but India needs a year of cool-down

Even as Michael Burry’s huge bearish bets on AI-linked stocks roiled global markets, Anurag Singh, Managing Partner at Ansid Capital, said the artificial intelligence frenzy may be moderated but is far from collapsing. “The Fab 7 is not a bubble,” Singh told ET Now, adding that “AI is real. We need to recognize that.” At […]

‘Sometimes We See Bubbles’: Big Short Michael Burry’s Bearish Bet on the World’s Most Valuable Stocks Meets a Global AI Selloff

Michael Burry, the investor immortalized by The big short one for predicting the 2008 housing market collapse has once again roiled global markets. His fund, Scion Asset Management, has taken a bearish position on Nvidia and Palantir, two of the biggest symbols of the ongoing artificial intelligence (AI) boom, according to a CNN report. Scion […]

Dow Jones crashes by 400 points, S&P 500, Nasdaq plummets by 1% after major banks signal a relapse risk

Wall Street stocks fell early Tuesday as shares in technology names including Palantir retreated as investors digested a slew of earnings reports.The Dow Jones fell 436.01 points, or 0.92%, to 46,894.82; the S&P 500 fell 81.71 points, or 1.19%, to 6,767.31; and the Nasdaq fell 398.08 points, or 1.67%, to 23,422.70. Analysts pointed to “profit […]