Nasdaq suffers worst month in over a year as AI nerves roil markets

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Wall Street suffered a steep day of losses Friday after the latest tech earnings reignited concerns that massive spending on AI may not deliver the returns that investors expect.…

Wall Street suffered a steep day of losses Friday after the latest tech earnings reignited concerns that massive spending on AI may not deliver the returns that investors expect. The Nasdaq Composite dropped 2.86% and the S&P 500 fell 1.82%, each suffering their worst day since June. The Dow fell 572 points, or roughly 1.1%. Just a few weeks ago, the Nasdaq and S&P 500 clinched record highs. But markets were rattled this month as concerns festered about higher interest rates, tech companies burning through cash on enormous AI spending and weaker-than-expected earnings and forecasts.

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