AI Spending Fears Sink Tech Stocks; SpaceX Rallies, Oracle Reveals Layoff Number

Technology stocks fell sharply on Monday as investor concerns mounted over excessive spending on artificial intelligence and high market valuations. The retreat erased gains from the previous week, signaling growing caution in the sector. Meanwhile, SpaceX shares snapped a losing streak, rising for the first time in several sessions. The rebound offered a rare bright spot in an otherwise downbeat day for tech markets. In a separate development, Oracle disclosed a specific figure for its workforce reductions, putting a number on previously unquantified layoffs. The company did not provide further details on the scope or timing of the cuts.