Reported 26 days ago
On November 1, 2024, the stock market saw a notable decline, led by the Nasdaq, after earnings from Meta and Microsoft raised alarms about increasing expenditures on artificial intelligence. Despite beating revenue expectations, both companies warned that higher AI infrastructure costs would pressure their profitability, resulting in significant drops in their stock prices. Other tech giants, including Amazon and Apple, also experienced fluctuations as investors reacted to these earnings reports, culminating in a slight overall loss for major indices.
Source: YAHOO