Markets Pull Back as Tech and Crypto Trades Dry Up
TL;DR
Risk appetite across Wall Street has cooled as investors retreat from crowded trades in tech stocks, gold, and cryptocurrencies amid valuation concerns and worries about AI disruption and policy risks; the selloff spilled into indices, with the S&P 500 and Nasdaq down, Bitcoin dropping about 13% to around $63,000, and Amazon’s plans to spend heavily on data centers and chips adding to investor caution about AI investments and stretched valuations.
- Risk Appetite Fades as Investors Exit Tech and Crypto Trades TipRanks
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