Tech stocks slide as Google Gemini delay adds to sector jitters
Tech stocks continue to fall for a full 24 hours, with futures pointing down. The decline is driven by a South Korean holiday, US and Japanese market closures, and reports of a delay in Google's Gemini AI model.
Technology stocks have been under sustained selling pressure for the past 24 hours, with futures prices moving in one direction—down. The weakness is compounded by a holiday in South Korea and market closures in Japan and the US for Nasdaq cash trading.
Asian trading saw losses of -1.4% in the tech sector, adding to the -1.5% decline during US regular hours. The sell-off is fueled by jitters in semiconductors, memory, and hyperscaler stocks.
Adding to the negative sentiment, reports indicate that Google's latest Gemini AI model has been delayed, further undermining confidence in the sector.
Source: FXStreet Forex News