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<US>S&P 500 Logs Longest Losing Streak Since Aug; Nasdaq Ends Down 1%+ with Amazon Leading Decline
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Market concerns over the high valuation of AI-related stocks prompted a persistent downtrend in US techs on Tuesday. Coupled with Bitcoin prices busting below US$95,000, this indicated a lower investors' risk tolerance, weighing down on US stocks again. The Nasdaq led the decline, closing down 275 points, or 1.2%, at 22,432. The DJIA slid 498 points, or 1.1%, to 46,091. The S&P 500 dropped 55 points, or 0.8%, to 6,617, marking its fourth consecutive day of decline, the longest losing streak since August. Among the "Magnificent Seven", Amazon (AMZN.US) was the top loser, sagging 4.4% for the day. AI leader Nvidia (NVDA.US) fell off 2.8%. Microsoft (MSFT.US) shed 2.7%. Alphabet (GOOG.US) CEO Sundar Pichai warned of some irrational phenomena in the current AI market, suggesting that if the bubble bursts, all companies could be affected. Alphabet inched down 0.2%. AASTOCKS Financial News Website: www.aastocks.com |
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