US markets tumble amid Wall Street concern over job losses and AI
The Guardian – World —
S&P 500 down 1.1% and Nasdaq down 1.9% as hiring freezes and layoffs sharpen fears US economy is slowingFears that the US economy is slowing, with firms shedding jobs and imposing hiring freezes, sent Wall Street tumbling on Thursday.The S&P 500 index of leading firms was down 1.1% as investors also highlighted concerns about the potential for a slump in the value of businesses that have benefited from huge investments in artificial intelligence. The tech-heavy Nasdaq Composite fell 1.9%. Continue reading...