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AI Stocks Slump Again Worldwide, While Oil Prices Tick Higher
Memory chip makers led the decline as investors questioned whether AI valuations can keep rising while oil prices stay high, analysts said.
- Global stock markets slumped on Thursday as AI-linked technology companies retreated, while oil prices continued climbing amid the ongoing war between the United States and Iran.
- Rising oil prices to $85.43 per barrel stoked investor anxiety regarding the Persian Gulf conflict, while market participants questioned whether AI valuations have outpaced sustainable profit expectations.
- Technology companies led the decline, with SanDisk falling 7.4% and Western Digital sinking 5.7%, even as Taiwan Semiconductor Manufacturing announced a $100 billion investment in United States computer chipmaking capacity.
- Energy cost pressures pushed the 10-year Treasury yield to 4.58% from 4.55%, while the BOK enacted an interest rate hike to address inflation stemming from the geopolitical crisis.
- While the technology sector struggled, healthcare companies including Abbott and UnitedHealth Group reported strong quarterly results, helping keep the Dow Jones Industrial Average relatively stable compared to the tech-heavy Nasdaq.
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WCCB Charlotte+2 Reposted by 2 other sources
AI stocks slump again worldwide, while oil prices tick higher
Computer chipmakers and other winners of the AI boom are slumping again and weighing on stock markets worldwide. They’re helping to drown out strength for most of the rest of Wall Street on Thursday, leaving U.S. stock indexes mixed.
Coverage Details
Total News Sources21
Leaning Left6Leaning Right3Center11Last UpdatedBias Distribution55% Center
Bias Distribution
- 55% of the sources are Center
55% Center
L 30%
C 55%
15%
Factuality
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