Stocks sink as interest rate hike worries rattle tech amid nonstop AI spending
Business
Major stock indexes fell sharply Friday after a strong jobs report set the stage for the Federal Reserve to hike rates, rattling shares of companies that are involved in sky-high artificial intelligence investments . The threat of higher interest rates often sends stocks lower because borrowing money, especially at the large sums that AI firms are borrowing at, becomes more expensive. The Nasdaq 100, which tracks the largest non-financial tech stocks traded on the Nasdaq stock exchange, tumbled
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