Wall Street's tech, crypto, and gold selloff: What's going on?
Wall Street just took a hit—Dow Jones dropped 557 points on Monday, marking its worst three-day slide since April.
The AI-fueled rally that pushed stocks to record highs recently is losing steam, and both the Nasdaq and S&P 500 have dipped below key support levels for the first time since May.
Why does this matter?
This isn't just about tech stocks—crypto and gold are down too.
The broad selloff is making investors nervous about whether AI companies are overvalued and what's next for the economy.
If you're investing or thinking about it, these big swings could affect everything from portfolios to future market trends.
What's behind the drop?
A mix of things: companies are taking on more debt to fund spending, government data has been delayed (thanks to a shutdown), and the Federal Reserve is being cautious about cutting rates.
Construction spending outside of data centers fell in August.
Everyone's watching for NVIDIA earnings and jobs numbers to get a clearer picture of what comes next.