US tech stocks tumble, Nasdaq at five week low

The US stocks crashed on Thursday on renewed concerns around spending by artificial intelligence companies. Global equities saw heavy selling as crude oil prices jumped amid rising geopolitical tensions.

The Nasdaq Composite lost 2.6% to 26,008.86, while the S&P 500 shed 1.21% to close at 7,663.43. The tech-heavy index suffered its worst session since June, while the S&P 500 posted its worst daily performance since July. However, the Dow Jones Industrial Average edged up 11.89 points, or 0.02%, to end at 52,867.98. Tech stocks have seen a massive correction in last few days and the Nasdaq composite is at a five week low now.

Powered by Capital Market - Live News