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Meta and Google admit that they may have invested too much in AI, but the risk of insufficient investment is far greater than that of excessive investment.
Technology giants would rather over-invest than invest too little, because in the technology industry, falling behind means having nothing at all.
The Nasdaq fell nearly 1%, while small cap stock index rose over 1%. Nvidia turned higher after falling about 7%, and silver saw its deepest decline at 5%.
Continuously updating... Investors continue to sell technology stocks and buy blue chip and small cap stocks. The S&P 500 has fallen for three consecutive days, and the chip stock index opened low and fell by half. The Dow Jones and Russell small cap stock index rose throughout the day, and Tesla rose by as much as 4.6%. After rising 0.7%, the China concept stock index turned to a 0.7% decline. New Oriental fell 5.5% after Dong Yuhui resigned, while Xiaopeng and Li Auto rose nearly 2%. The European stock of French luxury goods giant Kering Group's Yoox Net-a-Porter fell more than 7% to a seven-year low. US bond prices rose and fell, leading the global bond market before the release of positive US second quarter GDP data. Offshore RMB surged more than 600 points on Thursday and rose more than 0.7% for three consecutive days, while the yen rose as much as 1% to a two-and-a-half-month high. Ethereum futures fell more than 6.7% on the third day of ETF listing, and London copper fell below $9,000 per ton for the f
This DB Chart Shows How the Tech Selloff Is Driving Moves Throughout the Stock Market