Reported 9 months ago
U.S. stock indexes closed lower following cost warnings from Microsoft and Meta regarding their AI investments, which may impact profitability. Despite beating earnings expectations, Meta's shares fell 4.1% and Microsoft's 6%. The downturn extended to the broader market, with the Dow losing 378 points and the S&P 500 dropping 108 points. Market sentiment was affected by rising AI expenditures, leading investors to question short-term profitability amidst ongoing economic data and upcoming Federal Reserve meetings.
Source: YAHOO