Tech wreckage now hinges on Anthropic IPO
QQQ•The Nasdaq 100 lost some $2 trillion in value after the AI trade spooked investors. The columnist said a pause in Claude developer Anthropic’s market debut could trigger a spiral of fear.
1. Selloff risk
The Nasdaq 100 lost some $2 trillion in value after investors were spooked by the AI trade. The columnist said that whether data-center spending, elections or memory prices sparked the selloff, the hype was bound to be tamed, and a pause in Claude developer Anthropic’s market debut could risk a spiral of fear.
2. Technology shares fall
Technology shares led a market tumble on November 5. The Nasdaq Composite fell as much as 5%, its largest one-day decline in more than a year, while Nvidia shares fell as much as 9% and the Philadelphia Semiconductor index dropped more than 10%. A sustained 5% decline would mean about a $2 trillion loss in Nasdaq 100 market value.
