- Nasdaq 100 drops 3% for worst day in six weeks; Dow climbs
- ‘AI dominance cannot be taken for granted,’ Saxo’s Chanana
For the better part of two years, artificial intelligence technologies have been a nonstop gift for US equities investors. The Nasdaq 100 Index rose 92% from the start of 2023, adding more than $14 trillion in value and minting billions for a handful of tech executives and founders.
Just last week, the S&P 500 Index powered to another record thanks in large part to more AI hype, this time from the Oval Office in the form of $500 billion in planned investments. President Donald Trump declared the US the global AI leader — a statement few would’ve contested long before he even uttered it.