Tech stocks wipe out $1 trillion in value as concerns deepen about the AI boom
- Tech stocks plunged Friday, erasing more than $1 trillion in value.
- The Nasdaq 100 index fell 3.4% in afternoon trading, its worst one-day drop since mid-June.
- The sell-off pushed the Nasdaq 100 close to what is known as “correction territory,” which is a decline of 10% or more from an index’s last record high.
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- Tech stocks plunged Friday, erasing more than $1 trillion in value.
- The Nasdaq 100 index fell 3.4% in afternoon trading, its worst one-day drop since mid-June.
- The sell-off pushed the Nasdaq 100 close to what is known as “correction territory,” which is a decline of 10% or more from an index’s last record high.
Sources: NBC News