The U.S. New York stock market closed uniformly lower amid concerns over major tech companies' earnings and the burden of artificial intelligence (AI) investment. The tech-heavy Nasdaq Composite plunged 2.86%, recording the largest drop among the three major indexes, while the Dow Jones Industrial Average and the S&P 500 also weakened together. Questions over whether major tech companies' expanded AI investments can translate into actual profit growth have emerged as a key market variable.

■ All Three Major Indexes Fall… Nasdaq Posts Largest Drop

On the 31st (Korea time), the Dow Jones Industrial Average on the New York Stock Exchange (NYSE) finished trading at 51,770.31, down 572.25 points (1.09%) from the previous session. The S&P 500 fell 140.32 points (1.82%) to 7,580.07. The Nasdaq Composite closed at 25,437.00, down 747.73 points (2.86%).

With the Nasdaq's decline far exceeding those of the Dow and the S&P 500, selling pressure concentrated on tech stocks stood out.

■ From Alphabet to Amazon and Intel… Tech Investor Sentiment Shrinks

The market is focusing on the fact that assessments of AI-related investments have shifted following earnings releases from major tech companies. Disappointment over Amazon's and Intel's earnings and business outlooks, following Alphabet's, has weighed on investor sentiment across tech stocks broadly.

Until now, the growth potential of the AI industry has been one of the key factors underpinning the corporate value of major tech companies in the U.S. stock market. Large-scale capital investments in data center expansion, semiconductor procurement, and AI model development have fueled expectations for growth in related industries.

■ Beyond AI Investment Expansion, Confirming Profitability Is Key

However, as investment scales grow, so does the market's demand to verify how much these investments actually contribute to revenue and operating profit. In particular, whether the enormous costs poured into building AI infrastructure can be recouped as profit in the short term, and to what extent productivity gains from adopting the technology will be reflected in corporate earnings, are emerging as important evaluation criteria. A trend is emerging of scrutinizing returns relative to investment and cost burdens more closely than the expansion of AI investment itself.

This shift is a factor that could increase short-term stock price volatility, separate from the long-term growth potential of the AI industry.

■ Earnings, Capital Expenditure, and Profitability Outlook as Future Variables

Going forward, additional earnings releases from major tech companies, AI-related capital expenditure plans, and profitability outlooks are expected to act as key variables shaping investor sentiment in the U.S. stock market. While growth expectations for the AI industry still persist, whether companies can deliver earnings commensurate with their rising investment costs is becoming the crucial factor in determining the direction of tech stocks.

[This article was written based on the New York market closing figures provided; comparisons of individual companies' earnings with market expectations require separate verification. This article was written with some assistance from AI.]