The Nasdaq 100 fell 1.4 percent to 27,989.82, down more than 10 percent from its Oct. 6 high and entering technical correction territory, Bloomberg reported. The sell-off in the market is driven by growing investor concerns about the high spending of the technology giants on artificial intelligence infrastructure and little sign of a quick return on these investments. Against the background of the weak quarterly reports, the quotes of Alphabet, Meta (known as extremist in the Russian Federation) and Amazon also collapsed.