Investors' faith in AI stocks is now wavering

Even though Nvidia announced huge AI computing needs, at its influential GTC conference overnight, big US tech stocks tumbled, dragging the market lower. All 'magnificent seven' tech stocks fell back, even Nvidia fell 3.5%, amid its GTC conference (which usually gives it a boost). Focus is now on the US central bank rate decision, where comment is expected on the performance of the US economy, and how tariffs may be affecting that. Those comments could impact the market and determine the outlook for shares in the immediate term. Locally, the ASX opened flat, futures indicated that selling pressure will spill into the Asia-Pacific region's trading today. But we're seeing a bounce in leading coal stocks, led by New Hope and Whitehaven. Securities mentioned: Nvidia, New Hope, Tesla