TNB Tech Minute: Tech Stocks Lead a Market Decline on Recession Fears
WSJ Tech News Briefing
Deep Dive
Shownotes Transcript
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Here's your TNB Tech Minute for Monday, March 10th. I'm Shara Tipkin for The Wall Street Journal. Tech stocks led a drop in the stock market today. The Nasdaq closed down at 4% because of fears about a possible recession in the U.S. Tesla tumbled 15%, its worst day since 2020. Apple, Microsoft, Alphabet, and other tech giants also declined.
Over the weekend, President Trump refused to rule out the possibility of a recession this year. He told Fox News there will be a, quote, period of transition because what we're doing is very big. Commerce Secretary Howard Lutnick yesterday dismissed recession worries, but the market remains skittish.
Meanwhile, at another Elon Musk company, thousands of X users have reported service disruptions today. Musk blamed the outage on what he called a massive cyber attack. He said on X it was, quote, done with a lot of resources. Musk added it was either a large coordinated group and or a country involved in the attack. X didn't respond to a request for additional information.
And Foxconn says it has built its own artificial intelligence large language model. The company is best known for assembling Apple's iPhones. But it says it developed a new LLM in-house and trained it in about four weeks. Foxconn is calling the system FoxBrain. It says it's capable of data analysis, mathematics, reasoning, and code generation.
Foxconn says it got support from NVIDIA and plans to open source its model. The company believes FoxBrain will improve manufacturing and supply chain management. For a deeper dive into what's happening in tech, check out tomorrow's Tech News Briefing podcast. Enter a revolutionary business world where AI meets power with Intel Core Ultra and Intel vPro. Imagine PCs that boost productivity, creativity, and collaboration.
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