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NY stocks expected to open lower amid AI sell-off and SpaceX competition concerns

Reuters ·

SPCX Space Exploration Technologies Corp
$144.75 -9.14%
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AMT +2.21%
  1. 1Nasdaq fell nearly 3% on Thursday as the sell-off in AI-related stocks continued.
  2. 2Reports emerged that SpaceX is in discussions with cellular infrastructure companies to launch a nationwide wireless communications program.
  3. 3AT&T, Verizon, and T-Mobile saw declines of approximately 5% during pre-market trading.

So what's the key point?

The Nasdaq index fell nearly 3% as investors sold off artificial intelligence stocks. Shares of telecommunications companies dropped about 5% following news that SpaceX is preparing to enter the communications business.

Source Reuters · View original ↗

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