Nasdaq Falls, AI Stocks Under Pressure
US stocks moved lower on Tuesday (April 28), led by a decline in the technology sector as selling pressure in AI-focused companies offset gains in other sectors ahead of a series of major corporate earnings reports.
The Nasdaq 100 fell more than 1% and the S&P 500 fell 0.5%, retreating from record levels. Sentiment worsened after a report that OpenAI failed to meet internal targets for user acquisition and sales, reinforcing market skepticism over whether the surge in AI capital spending is still commensurate with the prospects for monetization.
Pressure spread to software and hardware stocks. Oracle and Coreweave each fell about 5%, while Nvidia, Broadcom, and Micron fell nearly 3%. MetaTrader, Microsoft, and Alphabet also moved lower ahead of their earnings releases after the market close the following day.
Outside of technology, the Dow Jones Industrial Average edged higher, supported by defensive and traditional stocks, with Visa, JPMorgan, and Johnson & Johnson gaining nearly 1%. However, high energy prices due to the war and the risk of persistently tight policy remain seen as obstacles to the US economic outlook, keeping market participants focused on earnings results and further signals regarding the direction of funding costs. (asd)
Source: Newsmaker.id
