A selloff in the world’s largest technology companies hit stocks, with the industry that has powered the bull market getting ready to report earnings next week.
Equities extended their slide from a record, with the S&P 500 breaking below 5,000 and the Nasdaq 100 falling over 2%. More than half of the “Magnificent Seven” cohort of tech megacaps will announce results in the next few days — leaving investors wondering whether those firms are going to live up to the high expectations set for artificial intelligence.
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