Nasdaq Composite has its worst month in a year: market selloffs hit due to AI threat
Technology sector index lost more than 3% in February / Photo: X / NYSE
U.S. stocks fell in price on Friday, February 27, after the publication of the producer price index (PPI), which turned out to be much higher than expected. This increased investors' concerns about sustainable inflation. Also, the market fears the negative impact of AI on the economy and uncertainty in the negotiations between the US and Iran.
Details
- The Nasdaq Composite Technology Sector Index fell 0.92% on Friday. For February, the index lost more than 3%, which was the worst monthly result since March last year, notes CNBC.
- The S&P 500 broad market index fell 0.43% on Feb. 27 and is down more than 1% for the month.
- The Dow Jones Industrial Average index of blue chips lost 1% during the day. In February, it was up 0.2%.
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