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 saw sharp declines as AI spending reached $1 trillion. Wall Street experienced a decline, reflecting market anxiety over the tech sector's financial health. Investors expressed concern as the market showed no signs of recovery. The tech sector's performance remains a point of discussion for analysts and investors alike.