AI profit fears fuel global tech selloff as Nasdaq drops 1.3% and Stoxx Europe 600 slips 0.92%

Investors are selling technology shares worldwide as worries grow over whether AI-driven spending will translate into enough profits to justify current valuations. The Nasdaq Composite fell 1.3% in the previous session and the S&P 500 also closed lower, while an Asian technology stock index dropped as much as 5% to end an eight-session winning streak. In Europe, the Stoxx Europe 600 Index was down 0.92% in early trading, and Brent crude fell below $77 per barrel, a move tied to risk sentiment rather than supply and demand.