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Business AI spending fears spark tech selloff, S&P 500 and Nasdaq tumble
AI spending fears spark tech selloff, S&P 500 and Nasdaq tumble

US stocks fell sharply on 22 October as earnings reports stoked fresh doubts about AI investment. The Nasdaq dropped 2.58 per cent, its steepest daily fall since June, led by semiconductor losses. The S&P 500 lost 1.19 per cent, while the Dow edged up 0.03 per cent.

Barclays to cut 5,000 jobs as it uses AI to reduce costs

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