AI Stock Frenzy Hits Turbulence: Tech Titans Tumble, Chip Wars Heat Up (Aug 21–22, 2025 Roundup)
Palantir Technologies dropped 17% over six days, marking the S&P 500’s steepest weekly loss. The Nasdaq Composite and S&P 500 tech sector each fell about 2% by Wednesday as investors trimmed tech holdings ahead of Fed Chair Powell’s Jackson Hole speech. Nvidia shares slipped 5% for the week. The White House confirmed talks to take a 10% government stake in Intel.