The U.S. stock market assesses the AI boom, with the Nasdaq experiencing its largest drop in June

According to Gate market data, U.S. tech stocks plummeted significantly as investors worried that spending in the AI sector may not be sustainable. The Nasdaq fell 2.6% on Thursday, marking the largest single-day drop since June. Meta's stock price dropped 7%, despite revenue growth, as profits did not meet expectations.

NVIDIA's CEO stated that AI lacks capital support for the growth of new cloud service providers, causing the Philadelphia Semiconductor Index to crash by 6.7%. Investors turned to the bond market for safety, leading to a decline in U.S. Treasury yields.