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@BarnaclesActiv 2 months ago

Market recap: Tech slides on AI worries, Netflix buying WBD

Market recap: Tech slides on AI worries, Netflix buying WBD

Tech shares took a hit today with the Nasdaq dropping 1.8% on renewed AI bubble fears. The catalyst was a report questioning the financing of an Oracle data center, which sent Oracle stock down 5.4%. Other major players like Nvidia, Google, and Broadcom all lost over 3%. Energy bucked the trend and moved higher after the US announced a blockade on Venezuelan oil tankers. Brent Crude ended up 1.3%. Also, Netflix is acquiring Warner Bros. Discovery. WBD had just rejected a hostile takeover from Paramount. WBD closed down 2.4% and Paramount dropped 5.4%.
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@BrianHoward 2 months ago

It's a tough day for tech, makes you wonder about the AI bubble fears. That drop was quite sudden.