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return2ozma@lemmy.world to Technology@lemmy.worldEnglish · 1 day ago

Tech stocks set to wipe out more than $1 trillion as concerns deepen about the AI boom

www.nbcnews.com

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Tech stocks set to wipe out more than $1 trillion as concerns deepen about the AI boom

www.nbcnews.com

return2ozma@lemmy.world to Technology@lemmy.worldEnglish · 1 day ago
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Tech stocks wipe out $1 trillion in value as concerns deepen about the AI boom
www.nbcnews.com
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The broader S&P 500 lost 1.8%, while the Nasdaq 100 had its worst day since June.
  • Skullgrid@lemmy.world
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    1 day ago

    and then will there be jobs?

    • BuckFutter@timeyak.com
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      1 day ago

      You would assume so…but who knows. We have a wanna be dictator at the helm in the US that has the mental capacity of goldfish, so fiscal responsibility isn’t exactly this administrations forte!

      • Skullgrid@lemmy.world
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        1 day ago

        I forsee layoffs instead of more jobs.

        • BuckFutter@timeyak.com
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          1 day ago

          It is quite possible, the giant hiring spree during covid and immediately after was never going to last unfortunately. Maybe after the midterms things will change in a positive direction.

          • Maya S. Trojan@piefed.blahaj.zone
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            1 day ago

            They are desperately trying to stave off the crash until Democrats have a majority so it can be blamed on the Democrats.

            • Grandwolf319@sh.itjust.works
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              20 hours ago

              While that has worked in the past, I don’t think it’s gonna fly this time.

              Optics matter and right now GOP are far more all in on AI, it’s also Cheeto’s halfway point, things crashing badly with Dems having some power won’t look like it’s the Dems in control.

              The fact that the economy took a bad turn right when he came into office is an association that most people won’t forget.

              • zbyte64@awful.systems
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                3 hours ago

                Trump isn’t the only American with the memory span of a goldfish, it is rather endemic.

            • BuckFutter@timeyak.com
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              1 day ago

              Ahh good point, it is certainly a method that works for them since they really don’t have much else to campaign on.

      • nyan@lemmy.cafe
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        1 day ago

        What a terrible insult to goldfish.

        • BuckFutter@timeyak.com
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          1 day ago

          It is, but there is no reason to be coy about it.

          • xtr0n@sh.itjust.works
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            1 day ago

            But can you be koi about it?

            • BuckFutter@timeyak.com
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              1 day ago

              Man, there is something really fishy about your question? Lol

    • CompactFlax@discuss.tchncs.de
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      1 day ago

      No, the billionaires will continue to hoard.

    • Beej Jorgensen@lemmy.sdf.org
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      1 day ago

      If you can’t afford bread, you should just eat cake.

      • OwOarchist@pawb.social
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        1 day ago

        If you can’t afford bread, you should just eat cake the rich.

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