Tech shares led a slide in US stocks on Thursday as rising concerns about highly valued companies collided with growing doubts about whether the Federal Reserve will cut interest rates next month.
The tech-heavy Nasdaq Composite closed 2.3 per cent lower and the S&P 500 lost 1.7 per cent.
The Nasdaq had surged more than 50 per cent between early April — when stocks rebounded from a sell-off sparked by President Donald Trump’s tariffs — and late October as investors bet that artificial intelligence would ignite a sustained period of blockbuster growth in the tech sector.
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