Wall Street Tech Sell-Off Gets a New Test as Amazon’s $200 Billion AI Spend Plan Bites
After a tough week for tech stocks, Wall Street’s key indexes bounced back on Friday, though Amazon took a hit as investors absorbed another surge in Big Tech’s AI spending. By 9:33 a.m. ET, the Dow had climbed 1.08%, the S&P 500 rose 0.88%, and the Nasdaq added 0.77%. Kristina Hooper, chief market strategist at Man Group, noted that investors are now entering “a period of greater discernment” when it comes to AI bets.