The Nasdaq Index fell sharply as tech stocks faced intense selling pressure. The decline was primarily due to concerns over AI spending and financing risks. Alphabet, Google's parent company, saw a dramatic drop in value, losing $711 billion and $500 billion in market value. US tech stocks saw sharp declines as AI spending reached $1 trillion. Wall Street fell sharply, reflecting market anxiety over the tech sector's financial health. Investors showed signs of anxiety as the market showed no signs of recovery. The tech sector's health remains a key focus for analysts and investors alike.