S&P 500, Nasdaq slide as Meta, Microsoft fall on AI spending concerns
S&P 500, Nasdaq Slip as Meta and Microsoft Stocks Stumble over AI Spending Plans On Thursday, U.S. equity markets sank as investor jitters over heavy artificial intelligence (AI) capital expenditures by tech giants weighed on the indices. Meta Platforms and Microsoft, in particular, led the declines, triggering broad concern over whether current AI bets can deliver returns. Market Overview The S&P 500 fell around 0.50%, and the Nasdaq Composite dropped approximately 1.14% on the day, reflecting the tech-led drag. Meanwhile, the Dow Jones managed a modest gain, as industrials and more defensive names offered some offset. The weakness was concentrated in big tech, with Meta plunging more than 10% and Microsoft dropping roughly 2–3% amid reports of soaring capital investments. Tech Giants Under Pressure Meta’s Dramatic Drop Meta’s stock tumbled after it flagged “notably larger” capital expenditures ahead, spurred by infrastructure investments in AI. The dec...