Wall Street loses over $2 trillion in AI chip selloff
Business
Wall Street just lost more than $2 trillion after a sharp drop in AI and semiconductor stocks.
Big names like AMD, SanDisk, and Micron saw their shares fall by double digits, while Tesla and Palantir also took serious hits.
It's a rough day for tech investors.
Indexes drop amid Michael Burry warnings
These losses dragged down the major indexes: Dow Jones dropped 2.36%, S&P 500 fell 3.11%, and Nasdaq sank 4.20%.
The sell-off has people talking again about Michael Burry's warnings of an "AI bubble," with fresh worries about whether all this hype (and spending) on AI is really sustainable.