Meta sell-off drags US tech stocks lower as AI spending fears flare up
Social media group’s market value tumbles more than $100bn after it forecasts ‘hundreds of billions of dollars’ in spending
TL;DR
- Social media group's market value dropped over $100 billion.
- The decline followed a forecast of 'hundreds of billions of dollars' in spending.
- AI spending projections are a cause for concern in the market.