AI Fears Hit Tech Stocks Again as Bitcoin Sinks and Wall Street Braces for Earnings
U.S. stocks fell sharply Thursday as tech shares and crypto-related stocks slumped. The S&P 500 lost 1.2%, the Dow dropped 592 points, and the Nasdaq slid 1.6%. Bitcoin plunged over 12% below $64,000 after new jobs data sent Treasury yields lower. Alphabet’s plan to spend up to $185 billion on AI in 2026 triggered further selling in big tech.