Tech Takes a Tumble: AI Jitters Shake Investor Confidence

Tech Stocks Under Pressure

Investors are adopting a cautious approach as rapid AI advancements stir uncertainty in the tech sector. While the market experiences volatility, tech stocks are particularly affected. The Nasdaq, known for its tech-heavy composition, is down, whereas the Dow remains stable.

Big Players Feel the Pinch

• Broadcom: Despite strong sales, shares dropped nearly 6%.
• Oracle: Beat profit expectations but saw a 10% stock decline due to high spending.

Other Sectors See Gains

Lululemon shares jumped nearly 10% after announcing its CEO's departure. The company also reported robust sales and profits.

Global Market Update

• Europe: Small gains observed.
• Asia: Rebounding from earlier losses.
• Japan's Nikkei: Climbed 1.4%.
• China: Modest gains.
• Australia and South Korea: Gains noted.
• Taiwan and India: Smaller increases.

Oil Prices Dip

• U.S. benchmark crude
• Brent crude: Both saw slight drops.

Bank of Japan in Focus

Investors are closely watching the Bank of Japan's upcoming policy meeting, where a rate hike is anticipated.

AI Boom Faces Doubts

Despite billions pouring into the AI sector, tech remains the only sector in the red. Investor caution is evident, reflecting market uncertainty.