AI stocks lost more than $820 billion this week
www.nbcnews.com
The Nasdaq had its worst week since the April global market plunge tied to Trump's "Liberation Day" tariffs.
  • HazardousBanjo@lemmy.world
    15·
    27 days ago

    Never have I seen greater evidence that the ultra-wealthy are fundamentally catastrophic for the economy.

    Aside from the last like 100 billion pieces of evidence that came before this well predicted one.

  • AlexLost@lemmy.world
    3·
    26 days ago

    Oh no?! The imaginary money that doesn’t actually exist now has less than before?! Whaaa! I’m sad now.

  • Ilixtze@lemmy.mlEnglish
    8·
    27 days ago

    Oh Let it burn, let it burn, let it burn, oh won’t you let it burn, oh won’t you won’t you let it burn, oh let it buuuuurn oh won’t you let it burn, oh won’t you let it buuurn! 🎵

  • Hildegarde@lemmy.blahaj.zone
    17·
    26 days ago

    From the article:

    Nvidia declined 7%, Oracle, and AMD dropped 8.8%, Meta and Microsoft dropped around 4%.

    These are amounts that stocks often fluctuate. Percentages are what matter. Phrasing it as a big dollar value was lost is always manipulative framing.

    The market is big. There are more than a few shares. A small change becomes a big number when multiplied by the size of the entire market. $800 billion is basically meaningless.

    The numbers are fake anyway. Market cap is the value if all existing shares were sold at the current price. Nonsense. Selling all the shares would change the price in some way.

  • Jolly Platypus@lemmy.world
    6·
    27 days ago

    Bubble bursting…

    People who are somewhat liquid going to do some bargain shopping.

    The good ol’ pump and dump.

    (Btw, guys, A.I. threat is way overblown.)

    • MuskyMelon@lemmy.world
      7·
      27 days ago

      A.I. threat is way overblown

      This assumes AI will be all knowing and all powerful and will turn to evil.

      But bad, incomplete, dreaming AI unleashed by CEOs, in search for more profit margins, are a real threat. Imagine air traffic control under AI that just screws up and cause planes to collide. Or AI robots who go awry.

  • Eddbopkins@lemmy.world
    6·
    26 days ago

    This is what Trump wants to justify lowering rates. Trump wants catastrophe and terror to claim hes the only one who can fix it. When in actuality he caused the problems, has declared 7 bankruptcies in his business Career, and has now bankrupted America by having a shutdown and not paying it’s employees, snap programs, cancelation of USAID and many much more.