The ASX Set to Slide, AI Stock Slump Hurts Wall Street The Australian Securities Exchange (ASX) is poised to follow global markets lower, with the slump in AI related stocks having a ripple effect on Wall Street.
For months, tech giants such as Nvidia, Micron Technology, and Western Digital have been riding high on their stellar gains, driven by the promise of artificial intelligence revolutionizing industries.
However, beneath the surface, warning signs were flashing red. The prices of these stocks skyrocketed, fueled by speculation that AI would unleash unprecedented productivity and profits.