However, with the exception of Tesla, major big tech stocks remain higher for the year. Amazon fell 8.8% on Friday on heavy AI spending plans, while Intel plummeted 26% on a grim forecast, its biggest one-day percentage drop since at least 1982, according to data compiled by Bloomberg. The Cboe NDX Volatility Index, which measures the 30-day implied swings in the Nasdaq 100 Index, briefly spiked above 28, its highest since March 2023. And the Cboe Volatility Index, or VIX, is also at its highest in more than a year. “However, there are all kinds of questions about the timing of AI demand, AI spending, and this kind of selling are the bumps in the road that come with that kind of thing.”There have been some bright spots.
