Stocks plunge on AI spending fears as tech rout on Wall Street deepens

Source: New York Post

Wall Street tumbled on Thursday, with the Nasdaq dragged to its lowest since November ⁠by losses in Microsoft, Amazon and other tech heavyweights after Alphabet said it could double capital spending on AI in the race to dominate the emerging technology. In afternoon trading, the Dow Jones Industrial Average plunged more than 450 points, or 0. 9%, to 49,028.