Investors’ confidence in the outlook for the economy and the artificial intelligence boom has powered stocks to record highs. Their faith is wavering.
The tech-heavy Nasdaq Composite Index, long buoyed by excitement over AI, had its worst week since President Trump unveiled his “Liberation Day” plans to impose tariffs on the rest of the world. Some of the biggest beneficiaries of that rally fell sharply amid concerns of overspending, and overpromising, on AI initiatives.
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