The Nasdaq Index dropped significantly as tech stocks faced intense selling pressure. The decline was primarily due to concerns over AI spending and financing risks. Alphabet, Google's parent company, experienced its worst trading day on record, losing $711 billion and $500 billion in market value. US tech stocks experienced significant drops as AI spending reached $1 trillion. Wall Street also slid, reflecting market anxiety over the tech sector's financial health. Investors expressed concern as the market remained volatile. The tech sector's performance remains a topic of concern for analysts and investors alike.