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The S&P 500 has declined approximately 2% since November 1, 2023, with technology stocks experiencing greater losses; for instance, Amazon.com Inc. (NASDAQ: AMZN) has fallen about 12% since that date, while Palantir Technologies Inc. (NASDAQ: PLTR) has seen a decline of over 18%. Investor concerns this month are focused on the timing of returns on investments in high-valuation tech companies amid pressures on their cloud services and e-commerce sectors.
Oracle Corp. (NYSE: ORCL) has also faced challenges, with a 13% drop since November 1, attributed to lagging adoption rates of its cloud infrastructure services. Concerns are growing that these companies, particularly in AI and cloud solutions, may fall short of delivering exceptional results expected by the market, shifting investor sentiment as they wait for forthcoming earnings reports.
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