The Nasdaq Index dropped significantly as tech stocks saw a significant drop in value. The decline was driven by concerns over AI spending and financing risks. Alphabet, Google's parent company, saw a dramatic drop in value, losing $711 billion and $500 billion in market value. US tech stocks were hit hard as AI spending reached $1 trillion. Wall Street experienced a decline, reflecting market anxiety over the tech sector's financial health. Investors remained cautious as the market showed no signs of recovery. The tech sector's health remains a topic of concern for analysts and investors alike.