US companies closely tied to the artificial intelligence boom have lost close to $1tn in market value since last Friday in the worst week for tech stocks since President Donald Trump’s “l(fā)iberation day” tariffs in April.
The combined market value of eight of the most valuable AI-related stocks — including Nvidia, Meta, Palantir and Oracle — has fallen by about $800bn since the end of last week.
The declines left the tech-heavy Nasdaq Composite with a weekly loss of 3 per cent, its worst five-day run since the index fell 10 per cent after Trump launched his trade war with a blitz of tariff announcements in April.
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