North American stocks plunge as tech sell-off triggers worst Wall Street day since June
Source Summary
The Nasdaq composite fell nearly 3 per cent on Friday, while Canada's S&P/TSX composite index declined 1.7 per cent, marking Wall Street's worst day since June. The sell-off was driven by rising concerns about whether hundreds of billions of dollars invested in artificial intelligence will generate sufficient profit and productivity returns to justify the investment.
Why it matters
A sharp decline across major North American indices signals investor reassessment of the profitability and returns expected from massive AI capital deployment.
What remains uncertain
The source does not specify whether the profit and productivity concerns reflect preliminary data, analyst projections, or corporate guidance.
