AssetID: 56131520
Headline: UNCAPTIONED: Wall Street Shifts Beyond Big Tech as AI Spending Concerns Mount
Caption: Wall Street Shifts Beyond Big Tech as AI Spending Concerns Mount. A major sell-off in Big Tech stocks has pushed the Nasdaq 100 into correction territory, highlighting growing concerns about the sustainability of the artificial intelligence boom. The technology-heavy index fell more than 10% from its October 6 record high, marking its third correction of at least that magnitude this year. However, the downturn has not affected the entire US stock market equally, with many companies outside the technology sector continuing to perform relatively well. On Monday, as the Nasdaq approached correction territory, nearly 70% of S&P 500 companies recorded gains, while seven of the index's 11 sectors finished higher, led by financials and consumer staples. The S&P 500 Equal Weight index, which reduces the influence of the biggest technology companies, outperformed the traditional benchmark by its widest monthly margin since 2009 in October. Investors are increasingly questioning whether the hundreds of billions of dollars being poured into AI infrastructure, including data centres and chips, will generate sufficient returns. Against this backdrop, investors are becoming more selective, favouring companies with strong balance sheets and sustainable earnings rather than concentrating their portfolios in technology. Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Current Affairs & Politics,big tech,investors,fear,reluctance,investment,AI,data centres,chips,concerns,sustainability,consumer staples,financial industry,Standard & Poors,Nasdaq 100,New York Stock Exchange,corrections,United States,stock market,performance,traditional,companies,index
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