Tech Slide Deepens as AI Fears Intensify

Speaker 10:00

The thing about AI for business, it may not automatically fit the way your business works. At IBM, we've seen this firsthand, but by embedding AI across HR, IT, and procurement processes, we've reduced costs by millions, slashed repetitive tasks, and freed thousands of hours for strategic work. Now we're helping companies get smarter by putting AI where it actually pays off, deep in the work that moves the business. Let's create smarter business. IBM.

Alexis Green· Host0:29

Here's your closing bell brief for Tuesday, June twenty-third. I'm Alexis Green for the Wall Street Journal. US stocks fell today as a deepening tech sell-off pulled major indexes lower. Investors are worried about AI companies spending heavily and looming federal rate hikes. The Nasdaq slid two point two percent, the S&P five hundred dropped one point four percent, and the Dow fell point one percent. Lower oil prices didn't help broader stock sentiment. Brent crude futures slipped to about seventy-seven dollars a barrel. That's the lowest settlement price since February twenty-seventh, the day before the US Israeli war with Iran began. Among individual companies, chip maker Micron Technology, whose market value recently moved over one trillion dollars, slid thirteen percent. Other chip stocks were also hammered, with Intel down more than six percent and Nvidia falling more than four percent. Oracle also dropped five point seven percent. The cloud computing and software giant disclosed it had cut twenty-one