Tech Stocks Plunge as Amazon and Alphabet AI Spending Surges

Wall Street indexes plummeted after Amazon and Alphabet announced combined capital expenditures of $380 billion for artificial intelligence.Amazon shares dropped 11% following earnings reports, while analysts like Michael Farr expressed concern over rising costs and weak USA labor data.The market decline impacted commodities and cryptocurrencies, with silver falling 17% and Bitcoin reaching its lowest price in 15 months at $62,736.