Grab EXTRA 10% OFF all Tangem products. Till Oct 25Tech stocks fall on AI slowdown, crypto stays resilient
6.6 Markets Tech stocks drop after AI slowdown calls, hitting semiconductors and Nasdaq, while crypto remains resilient on US regulatory optimism.
Global financial markets opened the week under pressure after leading figures in artificial intelligence urged a slowdown in developing advanced models due to security concerns. This announcement triggered a sharp sell-off in technology stocks, especially within the semiconductor sector. Nvidia fell by 3–3.7%, hitting its lowest point in three weeks, while the semiconductor index dropped as much as 6%. Other major manufacturers, including AMD, Intel, and Marvell, also saw declines of 5–8%. The Nasdaq closed down by about 1%, with the negative trend extending to Asian and European markets. Despite the downturn, some analysts suggest that demand for AI infrastructure may remain strong, even if development slows. In contrast, the cryptocurrency market showed resilience. Optimism surrounding the Digital Asset Market Clarity Act in the United States, whose chances of adoption have recently improved, helped support investor sentiment in the crypto sector.
