Wall Street Punishes Tech Stocks on Earnings Misses

Bloomberg Television4 hours ago51:53

Wall Street got a reality check as a bruising selloff in technology shares fueled concern the artificial-intelligence frenzy that has powered the equity bull market might be overblown. Disappointing tech results spurred the worst drop for stocks since June, with the Nasdaq 100 falling 3.5% and briefly crossing the threshold of a technical correction. Bloomberg News US Semiconductor Reporter Ian King, Bloomberg News Technology Reporter Matt Day and Bloomberg Intelligence Senior Technology Analyst Anurag Rana join to recap Intel and Amazon earnings. Plus, Jeff Sprecher, Intercontinental Exchange CEO joins to discuss the company's deal with Hyperliquid to bring perpetual futures products into US markets. Then, Bloomberg News Senior Equities Editor Eric Weiner helps dissect today's major selloff. Finally, Brooks Running CEO Dan Sheridan joins ahead of the New York City Marathon to discuss the shoe company's market share and customer demand. Chapters: 00:00:00 Bloomberg Businessweek Daily 00:02:05 Markets: Intel, Chips & AI Trade 00:04:25 Intel's Historic Stock Rout 00:07:23 AI Spending & Chip Stock Valuations 00:11:20 Amazon, AI Spending & $80 Billion Financing 00:14:01 AWS Growth & the AI Infrastructure Boom 00:15:01 Amazon E-Commerce & Consumer Spending 00:17:14 Amazon's AI Chips & Nvidia Competition 00:19:02 Tech Selloff Intensifies 00:21:11 ICE CEO on Markets & the AI Trade 00:23:23 Perpetual Futures & Crypto Trading 00:27:29 Prediction Markets & Retail Investors 00:30:19 The Push Toward 24/7 Trading 00:34:26 Is the AI Trade Unwinding? 00:36:13 Investors Rotate Into Defensive Stocks 00:39:40 New York City Marathon & the Running Boom 00:40:26 Brooks Running's Growth & Consumer Demand 00:42:49 Running Clubs & Global Growth 00:44:46 Markets: Nasdaq Nears a Correction 00:47:17 Investors Demand Returns From AI Spending 00:49:06 Stock Movers: Intel, Amazon & Reddit -------- More on Bloomberg Television and Markets Like this video? Subscribe and turn on notifications so you don't miss any videos from Bloomberg Markets & Finance: https://tinyurl.com/ysu5b8a9 Visit http://www.bloomberg.com for business news & analysis, up-to-the-minute market data, features, profiles and more. Connect with Bloomberg Television on: X: https://twitter.com/BloombergTV Facebook: https://www.facebook.com/BloombergTelevision Instagram: https://www.instagram.com/bloombergtv/ Connect with Bloomberg Business on: X: https://twitter.com/business Facebook: https://www.facebook.com/bloombergbusiness Instagram: https://www.instagram.com/bloombergbusiness/ TikTok: https://www.tiktok.com/@bloombergbusiness?lang=en Reddit: https://www.reddit.com/r/bloomberg/ LinkedIn: https://www.linkedin.com/company/bloomberg-news/ More from Bloomberg: Bloomberg Radio: https://twitter.com/BloombergRadio Bloomberg Surveillance: https://twitter.com/bsurveillance Bloomberg Politics: https://twitter.com/bpolitics Bloomberg Originals: https://twitter.com/bbgoriginals Watch more on YouTube: Bloomberg Technology: https://www.youtube.com/@BloombergTechnology Bloomberg Originals: https://www.youtube.com/@business Bloomberg Quicktake: https://www.youtube.com/@BloombergQuicktake Bloomberg Espanol: https://www.youtube.com/@bloomberg_espanol Bloomberg Podcasts: https://www.youtube.com/@BloombergPodcasts

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