The core businesses of America’s technology giants are starting to show signs of slowing, as investors grow wary of the artificial intelligence trade.
Wall Street got a reality check as a bruising selloff in technology shares fueled concern the artificial-intelligence frenzy that has powered the equity bull market might be overblown.
A batch of disappointing tech results drove the Nasdaq 100 down 3.6 per cent. Intel slid 30 per cent – the most in over four decades – as its outlook missed estimates. Amazon fell 2.3 per cent on greater capital spending.
Gift articles to anyone you choose each month when you subscribe.
Compare how 2 other independent news outlets reported on this story.
The US intelligence community intercepted communications in the spring indicating that an executive of Megaspeed, a company under investigation for possibly diverting sensitive technology to China, was having an affair with a US person.
Frank Cappelleri of CappThesis looks at several charts to help answer that question.
