Tech stocks log worst day since 2020 as carnage comes to the AI trade
S&P 500 sheds record $2.9T in market cap; tech stocks post worst day since 2020.
· Source: marketwatch.com
The S&P 500 experienced its largest single-day loss of market value on record, with $2.9 trillion erased. Tech stocks bore the brunt of the selloff, marking their worst day since 2020, as the AI trade faced broad-based selling pressure. The scale of the decline suggests institutional and retail capitulation, with potential implications for sector rotation and risk-on positioning.
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