US stock markets close day with losses amid ongoing AI concerns

Share prices of tech firms down; NVidia by 1.6%, Amazon by 2.2%, Intel by 3.7%, and Apple by 5%

By Gokhan Ergocun

ISTANBUL (AA) - US stock markets closed lower on Thursday amid ongoing concerns about artificial intelligence (AI) investments by tech firms, as the Dow Jones fell below the 50,000 threshold.

The Dow Jones Industrial Average fell by 1.34%, or 669.52 points, to close at 49,451.88.

The Nasdaq dropped 2.03%, or 469.32 points, to 22,597.15, while the S&P 500 declined 1.57%, or 108.72 points, to 6,832.75.

The Volatility Index (VIX), also known as the "fear index," rose sharply by 16.83% to 20.62 points.

Nvidia's share price dropped 1.6%, Amazon declined 2.2%, Intel fell 3.7%, and Apple lost 5%.

Existing home sales in the US fell more than expected in January, dropping 8.4% month-on-month to 3.91 million.

The number of Americans filing first-time unemployment claims decreased by 5,000 to 227,000 last week, a figure that came in higher than market expectations.

Technology stocks faced significant selling pressure due to growing skepticism about the returns on AI infrastructure investments.

Kaynak: