Stock Markets: A Perfect Storm or a Healthy Correction?

Tech-market panic is widening, but the core issue isn’t falling demand for AI computing—it’s money. The Nasdaq 100 dropped 2.9% on the day described, leaving its losses over about two weeks at nearly 8%. Investors are increasingly worried that markets underestimated financing risk as AI capex expands while the returns remain largely speculative. Even Nvidia CEO Jensen Huang has acknowledged capital is getting harder to find, while Blackstone warned executives there’s still no clear buyer for the debt needed to fuel infrastructure growth. Meta reported negative free cash flow of $2.1bn despite 26% revenue growth, then planned to raise fresh equity; its shares fell 7%. Defensive sectors like healthcare and staples rose instead.