A second day of selling pressure hit technology stocks tied to the AI theme on Wednesday, as sentiment cooled after an MIT report questioned the broad profitability of the new technology.
The analyst reportedly projected Tesla could capture 35% of the 1.1 trillion annual rideshare miles expected by 2040, generating nearly $250 billion in revenue.
Investor risk sentiment paused at the start of the week, as markets awaited details expected to emerge later when President Donald Trump meets with Ukrainian President Volodymyr Zelenskyy and European leaders.
Major tech-heavy indices edged lower from record highs by midday Friday in New York, as investors adopted a cautious stance ahead of the Trump-Putin meeting and after data showed a dip in consumer confidence alongside mounting inflation concerns.
Wall Street struggled to extend record highs on Thursday, as investors opted to lock in profits and adopt a more cautious stance after U.S. producer inflation posted its largest increase in three years.
