US tech stock rout raises AI bubble fears
The gist
The Nasdaq 100 dropped 6.3% on Thursday, erasing $2.3 trillion in market value.
The selloff spread to Asia and Europe, deepening doubts about AI spending.
How it unfolded
- Feb 6, 2026Amazon, Microsoft, Nvidia, Meta, Google and Oracle collectively lost more than $1 trillion in value over a week, FactSet data showed, with Amazon shedding just over $300 billion.
- Jun 23, 2026Tech stocks fell on AI bubble fears; Micron dropped more than 10% and Sandisk more than 12% in early trading after a 10% overnight fall in South Korea's KOSPI index.
- Aug 9, 2026A tech and chip stock rout deepened on AI bubble fears and concerns that China's technology is catching up.
Key terms
- Nasdaq 100
- A stock market index of 100 of the largest non-financial companies listed on the Nasdaq exchange.
- S&P 500
- A stock market index tracking the performance of 500 large US companies listed on American exchanges.
- midterm elections
- US general elections held near the midpoint of a president's four-year term, when all House seats and about a third of Senate seats are contested.
Source: Wikipedia