S&P 500 Today: Wall Street Slides as AI Spending and Oil Prices Weigh on Stocks
S&P 500 today moved lower as investors reacted to concerns over rising artificial intelligence spending by major technology companies and a sharp increase in oil prices. The index declined alongside the Nasdaq, while the Dow Jones Industrial Average also traded lower after earnings from Alphabet and Tesla failed to reassure investors despite strong revenue growth.
Alphabet reported robust cloud growth but increased its AI capital expenditure plans to more than $200 billion, raising concerns about profitability. Tesla also disappointed investors with negative free cash flow, adding pressure to technology stocks. At the same time, Brent crude approached $100 per barrel, fueling fears that higher energy prices could keep inflation elevated and delay interest-rate cuts.
Analysts said Wall Street will closely watch upcoming earnings from other major technology companies and economic data for clues about the market’s direction in the coming weeks.
