US Market Plunges: AI Spending, Weak Outlooks Trigger Investor Fear

• US stock markets experienced a sharp decline on Thursday, with the S&P 500 and Nasdaq hitting multi-week lows.
• Investor sentiment was shaken by renewed pressure on the Artificial Intelligence theme, Alphabet's increased AI spending plans, and Qualcomm's weak outlook.
• Alphabet's shares fell over 3% after projecting a sharp increase in AI spending for 2026, impacting other mega-cap stocks like Microsoft and Tesla.
• Qualcomm's shares dropped 7% due to a weaker-than-expected outlook, adding to market concerns about high valuations and ROI in AI.
• Further negative sentiment stemmed from a significant sell-off in the cryptocurrency market (Bitcoin below $67,000) and a sharp drop in silver prices, alongside rising concerns about US labor market weakness.