The Nasdaq Index fell sharply as tech stocks were hit hard by market forces. The decline was driven by concerns over AI spending and financing risks. Alphabet, Google's parent company, saw a dramatic drop in value, losing $711 billion and $500 billion in market value. US tech stocks were hit hard 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 key focus for analysts and investors alike.