Technology Shares Plunge As Nasdaq Enters Correction Arabian Post

(MENAFN- The Arabian Post) clearfix"> Wall Street suffered a sweeping technology selloff on Thursday as fears over artificial intelligence spending and possible restrictions on data centres drove the Nasdaq Composite into correction territory.

The technology-heavy index dropped 5.5 per cent to 24,315, closing nearly 12 per cent below its October peak. The S&P 500 lost 4.4 per cent to 7,353.73, its steepest daily decline since April 2025, while the Dow Jones Industrial Average shed 1,833 points, or 3.4 per cent, to 51,523.06.

Semiconductor companies bore the heaviest losses. The Philadelphia Semiconductor Index tumbled 12.2 per cent, its largest one-day fall since April 2025, as investors questioned the sustainability of spending on the chips and computing infrastructure underpinning the artificial intelligence boom.

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