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Here's the Bad News for Tech Investors Wondering If AI Spending Is Paying off
By Therese Poletti Tech earnings still won't answer the question of whether AI spending is paying off beyond Nvidia and a few chip and hardware makers The current weightings of the S&P 500 index say
Oracle CEO Safra Catz Steps Down From Disney's Board After Ellisons' Big Move in Hollywood
US stocks closed with all three major indices falling, with the S&P Nasdaq index seeing its largest weekly decline in three months. Technology stocks weakened, with Tesla down more than 4%, Nvidia down more than 2%, and CrowdStrike down more than 11%.
Investors accelerated their escape from technology stocks, with stocks and bonds in Europe and the United States being hit hard for two days. This week, the S&P 500 and Nasdaq fell by about 2% and 3.7%, respectively. The Nasdaq stopped its six-week continuous rise, while the Dow and small-cap indices rose by 0.7% and 1.7%, respectively. Chip stocks fell more than 3% on Friday and nearly 9% for the week. Nvidia also fell more than 8.7% for the past three months, making it the worst performer. The "seven sisters of technology" all fell for the week, and cybersecurity leader Crowdstrike, which triggered a global technology outage, fell 11% on Friday, the worst in nearly two years. The VIX panic index rose more than 32% for the week.
Oracle Commodity Converts Debt to Equity
Oracle CEO Catz Steps Down From Disney's Board
Disney: Catz Is CEO of Oracle >DIS
Disney: Catz Is CEO of Oracle >
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