New York, Feb 5, 2026 (AFP)
Wall Street stocks retreated early Thursday, spurred by questions on whether the longterm growth of technology earnings will live up to expectations.
Shares of Google parent Alphabet fell about three percent after it announced huge revenue growth but projected a near doubling of its capital spending this year, largely on artificial intelligence ventures.
Qualcomm, another big AI player, shed 7.7 percent.
About 25 minutes into trading, the Dow Jones Industrial Average was down 0.5 percent at 49,270.62.
The broad-based S&P 500 declined 0.6 percent to 6,842.25, while the tech-rich Nasdaq Composite Index shed 0.7 percent to 22,753.23.
Large tech companies chasing the AI boom led the market in 2025, but investors are beginning to question valuations.
"Right now, investors are shooting first and asking questions later and maybe they are too aggressive with their sale of technology stocks," said CFRA Research's Sam Stovall.
"We're getting good earnings this quarter but analysts and investors are really looking out to 2026 and 2027," Stovall said. Investors are questioning whether these tech companies will be able "to meet such high expectations?"
Sumber : AFP
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