Tech Stocks Slide As Wall Street Confidence Wavers And AI Hype Dims

Benzinga

The Nasdaq had its worst week since Trump’s April tariff announcement as confidence in the economy and the AI boom weakened. Palantir, Nvidia, and Oracle fell sharply, while Amazon was the only major tech name to rise. High valuations, weak consumer sentiment, and the ongoing shutdown weighed on markets.

Transcript

00:00It's Benzinga, bringing Wall Street to Main Street.

00:03Investor confidence in the economy and artificial intelligence boom wavered as the Nasdaq Composite

00:08Index suffered its worst week since Trump's April tariff announcement, falling 3 percent,

00:13according to The Wall Street Journal. The S&P 500 and Dow declined 1.6 percent and 1.2 percent,

00:20respectively, as high valuations, a prolonged government shutdown, and weak consumer sentiment

00:25weighed on markets. Palantir, NVIDIA, and Oracle dropped 11 percent, 7 percent, and 9 percent,

00:32respectively, while Amazon was the only major tech stock to gain. Analysts cited concerns about

00:38overspending on AI, with firms projected to invest 400 billion dollars this year. Fed rate cut odds

00:44for December rose to 66 percent amid mixed economic data. For all things money, visit Benzinga.com.

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