USA: Tech Weighs Further on US Stocks.

US stocks declined on Tuesday amid fresh pressure from tech giants on renewed uncertainty on the disruption that artificial intelligence may have on the corporate sector. The Nasdaq 100 fell more than 1%, while the S&P 500 dropped 0.7% and the Dow fell 250 points. Companies that sell software as a service remained under the spotlight on concerns that improvement in AI automation tools may displace demand for the sector. Oracle, Intuit, and Salesforce fell between 5% and 3%. Hardware producers that have benefited by the influx of datacenter capital expenditure also remained volatile on skepticism that spending will translate to the returns that were expected. AMD fell more than 4%, while Micron and Nvidia traded firmly in the red. Additionally, Crowdstrike fell plummeted 7% after Mizuho cut its recommendation on the firm. Meanwhile, banks and credit providers were firmly higher on fresh support from Treasuries, as hopes of lower rates by the Federal Reserve could spur credit activity.