Global markets retreated on Friday as Wall Street’s selloff spread worldwide, with AI spending fears driving volatility.

TechCentral

Global financial markets experienced significant volatility as investor concerns about massive AI infrastructure spending by tech giants (Amazon, Microsoft, Google, Meta totaling $600 billion) triggered widespread selloffs. The S&P 500 software and services index lost $1 trillion in market value since late January in what traders dubbed "software-mageddon." Cryptocurrencies dropped $2 trillion from October peaks, while traditional safe havens like precious metals also showed unusual volatility. Markets are questioning the return on investment for AI spending while simultaneously worrying about AI's disruptive impact on software and data services sectors.

From stocks to crypto, markets reel as AI doubts grow

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