US stocks attempted an unsuccessful rebound on Thursday as the Nasdaq and S&P 500 added to Wall Street's latest Big Tech sell-off, fueled by concerns the artificial intelligence trade could be losing steam. The Nasdaq Composite , which wobbled between losses and gains throughout the trading day, closed down about 0.9%, after coming off the worst day for the tech-heavy index since October 2022. The benchmark S&P 500 dropped 0.
Nikkei 225 sank to a 3%-plus loss at the close, though a sudden yen gain also drove the Tokyo benchmark into technical correction. At the same time, concerns about the robustness of the US economy are emerging as big-name earnings misses cast doubt on how consumers are holding up in the face of historically high borrowing costs.
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