Applovin Drops as Nasdaq Slumps 1.2% to 12-Week Low
Applovin shares sold off as the Nasdaq opened 1.2% lower at 22,293.85, its lowest level since November 21, marking a potential sixth consecutive weekly decline. Extended tech-sector weakness pulled the S&P 500 down 0.7% and spurred futures to indicate further downside on investor caution over large AI spending commitments.
1. Nasdaq Hits 12-Week Low
The Nasdaq Composite opened down 1.2% at 22,293.85, its lowest level since November 21, while the S&P 500 dropped 0.7%, setting the stage for a potential sixth straight weekly loss as futures pointed to more declines.
2. Applovin Among Tech Fallers
Applovin shares slid alongside peers including CrowdStrike, Palo Alto Networks and AMD as investor caution over large AI spending commitments led corporations to pause buybacks and weigh debt financing instead.