"The U.S. stock market is slipping again on Tuesday, following a global sell-off, as Nvidia, bitcoin and other Wall Street stars keep falling on worries that their prices shot too high. Home Depot is also dragging the market lower after saying it made less in profit during the summer than analysts expected. The S&P 500 dipped 0.4%, following up on sharp swings the last couple weeks, and pulled further from its all-time high set late last month."
"Many big investors still seem to be expecting stock prices to rise further, according to the latest monthly survey of global fund managers by Bank of America Global Research. But when asked what the No. 1 risk for the market is, one with a lower probability of happening but a high chance of damage, 45% pointed to an AI bubble. That beat out trouble in the bond market, inflation and trade wars."
The U.S. stock market slipped after a global sell-off as Nvidia, bitcoin and other high-fliers declined and Home Depot reported lower-than-expected summer profit. The S&P 500 fell 0.4%, the Dow dropped 373 points (0.8%), and the Nasdaq lost 0.6%, extending recent sharp swings and pulling further from an all-time high. The market rallied strongly since April, prompting concerns that prices rose too fast, especially among AI-related stocks. A Bank of America Global Research survey found many investors still expect gains but 45% identified an AI bubble as the top low-probability, high-impact risk. Investors also cite overinvestment in AI chips and data centers.
Read at Fast Company
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