📉 Nasdaq 100 Enters Correction as AI Spending Concerns Trigger Tech Selloff.
The Nasdaq 100 officially entered correction territory on November 2, falling 1.4% to 27,989.82 and closing 10.4% below its October 6 record high. It marks the index's third correction in 2026, as investors increasingly question whether massive artificial intelligence investments by major technology companies will generate sufficient returns.
Selling pressure has intensified across major technology stocks. Intel dropped 8.8%, AMD declined 7.5%, while Oracle lost nearly 9% amid concerns over its financing plans for expanding AI infrastructure. The semiconductor sector also suffered significant losses, reflecting growing caution toward companies heavily exposed to the AI investment boom.
The correction highlights a changing attitude toward Big Tech: investors are no longer satisfied with ambitious AI spending announcements alone and increasingly want evidence of sustainable revenue growth and profitability. However, the broader market has shown relative resilience, with the Dow Jones gaining 0.4% on Monday. Attention now turns to upcoming corporate earnings, Federal Reserve developments, and US midterm election results, which could influence the next direction of equity markets.#Nasdaq100EntersCorrection
The Nasdaq 100 officially entered correction territory on November 2, falling 1.4% to 27,989.82 and closing 10.4% below its October 6 record high. It marks the index's third correction in 2026, as investors increasingly question whether massive artificial intelligence investments by major technology companies will generate sufficient returns.
Selling pressure has intensified across major technology stocks. Intel dropped 8.8%, AMD declined 7.5%, while Oracle lost nearly 9% amid concerns over its financing plans for expanding AI infrastructure. The semiconductor sector also suffered significant losses, reflecting growing caution toward companies heavily exposed to the AI investment boom.
The correction highlights a changing attitude toward Big Tech: investors are no longer satisfied with ambitious AI spending announcements alone and increasingly want evidence of sustainable revenue growth and profitability. However, the broader market has shown relative resilience, with the Dow Jones gaining 0.4% on Monday. Attention now turns to upcoming corporate earnings, Federal Reserve developments, and US midterm election results, which could influence the next direction of equity markets.#Nasdaq100EntersCorrection