US EditionWall Street ends sharply down as traders fret about AI disruption
Indexes including the S&P 500 and Nasdaq dropped as AI advances raise concerns about tougher competition and margin pressure ahead of major tech earnings, with the S&P 500 software index down five days.
- On Tuesday, U.S. equity markets fell sharply, with the S&P 500 down 59.04 points and the Nasdaq down 336.20 points , as Wall Street traders and investors worried AI would increase competition for software makers.
- Investor caution stems from AI scrutiny in recent months and Anthropic's launch of a legal tool for its Claude AI chatbot, raising competition concerns for software makers.
- Data showed major AI-linked stocks sliding while the S&P 500 software and services index fell for a fifth day, though Palantir rallied after strong quarterly results Monday.
- With big-tech reports due later this week, markets stayed on edge as Alphabet dropped before its Wednesday report and Amazon slipped ahead of its Thursday report, while the partial government shutdown postponed key jobs data due on Friday.
- Sector divergence indicated that healthcare stocks fell after Novo Nordisk warned of steep sales decline, dragging down Eli Lilly, while Walmart climbed to a $1 trillion market value and PepsiCo shares rose.
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The U.S. stock market sank after a mixed day of trading. The S&P 500 fell 0.8% Tuesday. The Dow Jones Industrial Average dipped 0.3%, and the Nasdaq composite lost 1.4%. Nvidia, Microsoft and other influential Big Tech stocks weighed on the market. So did software companies and others seen as pot...
Wall Street ends sharply down as traders fret about AI disruption
Wall Street ended sharply lower on Tuesday as investors worried about AI creating more competition for software makers, keeping them on edge ahead of quarterly reports from Alphabet and Amazon later this week.
Wall Street falls on AI concernsThe decline in US stock indexes is deepening, driven by technology companies seen as vulnerable to disruption from artificial intelligence. The S&P 500 increases its f
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