The Nasdaq Index experienced a sharp decline 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, experienced its worst trading day on record, losing $711 billion and $500 billion in market value. US tech stocks saw sharp declines as AI spending reached $1 trillion. Wall Street experienced a decline, reflecting market anxiety over the tech sector's financial health. Investors expressed concern as the market remained volatile. The tech sector's performance remains a key focus for analysts and investors alike.