Global tech stocks lose $2.5 trillion to $3 trillion as AI investment concerns mount, Momentum says
XLK•Momentum Global Investment Management estimates global technology stocks lost $2.5 trillion to $3 trillion over recent trading sessions. Global equities fell 2.5% in the week ended November 6, while Japan’s equities dropped 6.5%.
1. Technology shares fall
Momentum Global Investment Management estimated that global technology stocks lost $2.5 trillion to $3 trillion over recent trading sessions, as disappointing earnings, high valuations and concerns over artificial intelligence investment weighed on shares. Global equities fell 2.5% in the week ended November 6, and Japan’s equities dropped 6.5%.
