Nasdaq-100 falls 1.8% as Meta Platforms slides and oil spikes
The Nasdaq-100 took a 1.8% hit on Thursday, mostly because big tech names struggled.
Meta's shares fell 6.1%, its most intraday since late July, even though the company posted strong earnings, with investors worried about its heavy AI spending.
Tesla and Lam Research also disappointed with their results.
On top of that, oil prices spiked as tensions in the Middle East grew.
US partial evacuation from Saudi Arabia
The US started partially evacuating from Saudi Arabia due to regional conflict, which rattled energy markets even more.
UBS global equities head Ulrike Hoffmann-Burchardi suggested it might be smart to mix in more fixed-income investments to ride out the ups and downs.
Meanwhile, Europe's financial worries had investors running to safer bets like US Treasuries and German bunds.
Apollo Chief Economist Torsten Slok also pointed out that if AI doesn't deliver big returns, venture capital could feel the squeeze too.