They said AI was the answer and that a lot of money was there to be made from it.

Nvidia was going to be the best corporation the world has ever seen. AI would be transformative right now. Elon Musk said humanoid robots would rule the world, so best to invest now and reap dividends.

Today, the Dow Jones Industrial Average nosedived more than 800 points with Nvidia, Tesla and Microsoft share prices declining.

Some say the Consumer Price Index report for October may never be released because of data collection issues surrounding the U.S. Government shutdown.

Investors are worried about AI companies’ valuations, with Alphabet also taking a hit.

Researchers at MIT are reporting that 95 per cent of organisations are getting very little returns from their AI investments.

Perhaps it’s a little early to tell just how well these AI companies will fare, and will they all go the same route as the .com bubble.

“There’s a lot of uncertainty about the state of the economy. What we’re going through is a little bit of a correction in the market in the AI sector, and we’re seeing market rotation,” Peter Cardillo, Chief Market Economist at Spartan Capital Securities, told Reuters.

The Nasdaq marked its third straight day of losses. But it wasn’t just tech stocks that took a hit today; Disney shares fell 8 per cent after its fourth quarter report was released.

The Dow Jones Industrial Average fell by 72 points while the S&P 500 fell by 0.6 per cent.

This was the U.S. stock market’s worst day in over a month with tech sell-offs intensifying. Bitcoin prices fell to their lowest level in six months.