Economy
US Chip Stocks Plunge Amid AI Slowdown Fears On Wall Street
Livemint2h
THE BRIEF
1
Major US chip stocks declined sharply on September 14, with Nvidia falling 4.3% to $209 and Marvell Technology shedding 9.5% amid growing concerns over rapid AI development.
2
The sell-off dragged the Nasdaq Composite down 1.7% to 28,867, while the S&P 500 and Dow Jones Industrial Average dropped 0.6% and 0.3%, respectively.
3
Anthropic CEO Dario Amodei called for an industry slowdown in advanced AI development, raising investor worries about weaker corporate spending across the supply chain.