US capital markets suffer a massive $3 trillion loss as the AI bubble bursts, which is also affecting the crypto marketâś…
⇉ US capital markets experienced the largest drop since March 2020, losing over $3 trillion.
⇉ The sluggish economy and bursting of the AI bubble are key factors.
⇉ Investors dissatisfied with returns on multi-billion dollar AI investments by tech giants.
⇉ Weak US job growth fuels fears of economic slowdown.
⇉ Nasdaq dropped over 2%, led by disappointing results from Intel and Amazon.
⇉ Dow Jones and S&P 500 also fall nearly 2%.
⇉ Japanese stocks saw the biggest drop since 1987, with the Nikkei 225 closing nearly 6% lower.
Both
$BTC and
$ETH are significantly down.
$BTC needs to hold the $59K-60K region.