Dow Jones slips 167 points on AI disruption fears; Alphabet, Amazon earnings next
The Dow Jones Industrial Average dropped 166.67 points Tuesday, closing down 0.34% at 49,240.99 as tech and software stocks came under pressure amid renewed worries about AI squeezing profit margins. “We’re seeing a lot of software companies across the spectrum get hit,” said Art Hogan, chief market strategist at B. Riley Wealth. The S&P 500 fell 0.84% to 6,917.81, while the Nasdaq slid 1.43% to 23,255.19. Merck bucked the trend, rising 2.2% after reporting results, and PepsiCo surged 4.9% following announcements of price cuts on brands like Lay’s and Doritos.
