\n<\/p>\n
On Tuesday, stocks took a hit as technology shares continued to slide due to worries about the rising costs of artificial intelligence (AI) stocks. Adding to the caution among investors, Bitcoin briefly dropped below $90,000, signaling a retreat from riskier investments.<\/p>\n
The Dow Jones Industrial Average<\/strong> fell by 498.50 points, or 1.07%, closing at 46,091.74. Similarly, the S&P 500<\/strong> lost 0.83%, ending the day at 6,617.32. This marks the fourth consecutive drop for the S&P 500, which is its longest losing streak since August. The Nasdaq Composite<\/strong> decreased by 1.21%, finishing at 22,432.85. At one point, the Dow was down nearly 700 points, with the S&P 500 and Nasdaq also experiencing significant losses.<\/p>\n The downturn was heavily influenced by Nvidia<\/strong>, a leading AI chip company, which saw its shares fall by more than 2%. Other major players like Amazon<\/strong> and Microsoft<\/strong> were also affected, with Amazon’s shares down 4% and Microsoft experiencing a 2% decline.<\/p>\n CFRA’s chief investment strategist, Sam Stovall, suggested a possible decline of 8% to 9% for the S&P 500, particularly if Nvidia’s upcoming earnings disappoint and if weak employment data surfaces but doesn’t indicate a recession.<\/p>\n Nvidia’s stock has fallen about 10% this month, just days before it reports its third-quarter results. The company is at the center of discussions regarding the stability of the AI market and the increasing concerns surrounding high-tech valuations and large amounts of debt in big tech companies.<\/p>\n Stovall remarked, \u201cIf the leading company in the industry expresses optimism while delivering better-than-expected earnings, it could ease investor anxiety.\u201d However, he emphasized the uncertainty of when the benefits from current investments will materialize.<\/p>\n In a surprising turn, a significant AI partnership was announced on Tuesday, involving Anthropic and Microsoft, where they plan to invest a combined $30 billion. Despite this announcement, Nvidia and Microsoft still saw declines in their stock prices.<\/p>\n Stovall explained, \u201cWe\u2019re in a phase where investors are reassessing their gains. Something new will need to happen to shift their perspectives.\u201d<\/p>\n On the cryptocurrency front, Bitcoin’s brief dip below $90,000 raised alarms, especially since many tech investors hold substantial amounts of cryptocurrency. Bitcoin later recovered, trading just above $91,000.<\/p>\n In other news beyond the tech sector, Home Depot<\/strong> shares fell after the home improvement giant reported lower-than-expected earnings and downgraded its full-year forecast.<\/p>\n\n","protected":false},"excerpt":{"rendered":" Stock Market Hits Another Low Amid Concerns Over Tech Shares and Bitcoin On Tuesday, stocks took a hit as technology shares continued to slide due to worries about the rising costs of artificial intelligence (AI) stocks. Adding to the caution among investors, Bitcoin briefly dropped below $90,000, signaling a retreat from riskier investments. The Dow<\/p>\n","protected":false},"author":1,"featured_media":20990,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"categories":[34],"tags":[25153,120,969,26467,316,113,25155,105,26464,309,922,25157,104,777,26465,26466,25156,106,111,124,122],"class_list":["post-20989","post","type-post","status-publish","format-standard","has-post-thumbnail","category-technology","tag-alphabet-class-a","tag-amazon-com-inc","tag-bitcoin-usd-coin-metrics","tag-blue-owl-capital-inc","tag-breaking-news-markets","tag-business-news","tag-dow-jones-fut-sep25","tag-dow-jones-industrial-average","tag-home-depot-inc","tag-markets","tag-microsoft-corp","tag-nasdaq-100-fut-sep25","tag-nasdaq-composite","tag-nvidia-corp","tag-owl-rock-capital-corp","tag-palantir-technologies-inc","tag-sp-500-fut-sep25","tag-sp-500-index","tag-stock-markets","tag-target-corp","tag-walmart-inc"],"_links":{"self":[{"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/posts\/20989","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/comments?post=20989"}],"version-history":[{"count":0,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/posts\/20989\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/media\/20990"}],"wp:attachment":[{"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/media?parent=20989"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/categories?post=20989"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/tags?post=20989"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}