Nasdaq dives 750 points as investors reassess AI spending
Stocks slid sharply on Thursday amid mounting concerns over whether massive investments in artificial intelligence will pay off and high oil prices.
Shortly before the close of trading, the Nasdaq Composite Index, where many technology companies exposed to AI are listed, tumbled 751 points, or 2.8%, before rebounding slightly to close 694 points lower at 26,009. The broader S&P 500 fell 1.2%, while the blue-chip Dow Jones Industrial Average eked out a small gain of less than 0.1%.
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