Nasdaq closes 1.38% lower on AI spending and inflation concerns

Impact · against what's priced in

Alphabet is the primary casualty here as negative free cash flow and missed targets directly undermine the margin assumptions the price was clinging to. Caterpillar faces a setback as the market's skepticism of its AI-driven power cycle is reinforced by broader AI spending fears, while Eli Lilly remains largely unaffected by the tech-centric sell-off.

GOOGL−0.90

Challenges what's priced in

The price assumes