AI Spending Fears Push Nasdaq to 7-Week Low as Bitcoin Drops Below $63K
- Nasdaq Composite falls to a seven-week low as investors question record AI spending.
- Tech giants plan roughly $730 billion in AI infrastructure investment despite return concerns.
- Bitcoin drops below $63K amid broader risk-off sentiment across equities and crypto markets.
The Nasdaq Composite fell to a seven-week low after investors questioned how quickly the largest technology companies could generate returns from their expanding AI infrastructure spending plans. The risk-off sentiment also pushed Bitcoin below $63,000 amid broader pressure across equities and cryptocurrencies.ย
AI Investment Race Coincides With Market Pullback
The cautious sentiment was reflected across major equity and cryptocurrency markets. The weekly US100 chart showed the index extending its recent decline after failing to hold above the 30,000 level. The benchmark closed near 27,851.5 aโฆ
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