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Tech Selloff and Crypto Mention in Market Recovery

Tech Selloff and Crypto Mention in Market Recovery

Author:

Global Cryptocurrency

Published:

2025-11-09 09:49:02

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BTCCSquare news:

The S&P 500 ETF (SPY) and Nasdaq 100 ETF (QQQ) rebounded from early lows, with SPY closing in positive territory despite a broader tech selloff. The eight largest AI stocks, including Nvidia (NVDA) and Meta Platforms (META), lost $911 billion in market cap amid bubble fears. OpenAI CFO Sarah Friar's retracted comments about government backing for AI investments exacerbated concerns.

White House AI and Crypto Czar David Sacks clarified on X that no federal bailout for AI is forthcoming. Meanwhile, former President Trump expressed Optimism about AI's potential, dismissing bubble worries. The market's focus on tech volatility contrasts with the ongoing government shutdown, now in its 38th day.

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