The three major stock indexes on the U.S. New York Stock Exchange are all in decline. With the bubble controversy surrounding artificial intelligence (AI) and semiconductor-related stocks coming to the forefront, technology stocks have sharply fallen for two consecutive days.
As of 12:04 p.m. local time on the 19th, the Dow Jones Industrial Average is down 64.25 points (0.14%) at 44,858.02 on the New York Stock Exchange.
The Standard & Poor's (S&P) 500 index is down 46.87 points (0.73%) at 6,364.50, while the Nasdaq Composite Index is trading at 21,074.80, down 240.15 points (1.13%) from the previous session.
The Nasdaq index, which is heavily weighted with technology stocks, also fell more than 1% the previous day. This is due to investors realizing profits from the semiconductor and technology stocks that had soared recently.
Following the controversy over the overvaluation of technology stocks, questions have arisen regarding whether the artificial intelligence (AI) boom can sustain itself over the long term, leading to a decline in investor sentiment. Sam Altman, the CEO of OpenAI, directly noted, "There is a bubble in the AI industry."
International oil prices are widening their decline. As of 1:10 a.m. Korean time, the price for the near-month September West Texas Intermediate (WTI) crude oil is up 1.06% at $62.83 per barrel compared to the previous session.