Artificial-intelligence frenzy hits stocks
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•Technology
Technology
Tech stocks tank as a Chinese competitor threatens to upend the AI frenzy; Nvidia sinks nearly 17%
85% Informative
The S&P 500 dropped 1.5% , dragged down in large part by a 16.9% fall for Nvidia .
The Nasdaq composite down 3.1% for its worst loss in more than a month .
The damage was focused on AI -related stocks, while the rest of the market held up much better.
Apple , Meta Platforms, Microsoft and Tesla are all on the schedule this upcoming week to report how much profit they made at the end of 2024 .
The pressure is on companies to keep delivering strong profits, particularly after a recent jump in Treasury yields.
When bonds are paying more in interest, they put downward pressure on stock prices.
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