Tech had a rough day. But don't call it a dot-com meltdown moment yet

The tech industry faced a challenging week as a sell-off in tech stocks and concerns over artificial intelligence (AI) dampened investor sentiment. The ‘Magnificent Seven’ tech stocks lost $615.6 billion in value on Monday, while doubts emerged regarding the revenue potential of AI investments. Furthermore, a federal judge ruled that Google violated US antitrust laws, which could disrupt its search dominance and impact other tech giants embroiled in antitrust battles. Economic concerns, including a higher than expected unemployment figure and impatience for US Federal Reserve rate cuts, added to the uncertainty. Analysts suggest the tech industry is merely experiencing a correction rather than a substantial downturn.