"Tech Sell-Off Sends Dow and Nasdaq Plummeting"
US stocks faced pressure as tech giants Apple, AMD, and Tesla experienced setbacks, leading to a decline in the S&P 500 and Nasdaq 100. The market is grappling with concerns about sky-high valuations and the potential for a tech bubble, with bullish positioning in US technology stocks at a three-year high. Federal Reserve Chair Jerome Powell's upcoming testimony to Congress is awaited for insights on the central bank's stance. Despite the AI frenzy and strong earnings from tech giants, there are mixed views on whether the tech rally is sustainable or a bubble, with some strategists emphasizing the need for caution and diversification in tech exposure.
