The Nasdaq Index experienced a sharp decline 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, 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 remained cautious as the market continued to fluctuate. The tech sector's stability remains a topic of concern for analysts and investors alike.