Nasdaq set for correction as investors reassess AI spending boom
QQQ•The Nasdaq fell 3.2% to 24,796.06 on Thursday, leaving it 10% below its October 6 record close of 27,599.89 and on pace to confirm a correction as investors worried about AI spending and data-center expansion.
1. Nasdaq nears correction
The Nasdaq Composite fell 3.2% to 24,796.06 on Thursday, putting it 10% below its record closing high of 27,599.89, reached on October 6. A 10% decline from a recent record close is widely considered a correction; the move would be the index’s second correction this year. Worries about AI spending and scrutiny of further data-center expansion rattled tech stocks, erasing the index’s gains from the previous session.
