More Drops for Nvidia and Other AI Chip Stocks Erase Wall Street's Rally From the Day Before
Nvidia fell 4.1% and AMD slid 10.7% as worries about slower AI data-center spending kept pressure on technology shares.
- On Thursday, Wall Street fell 1.8% as AI-related stocks dragged down the market, erasing all gains from the prior day, which was its best session in three months.
- AI-Related stocks faced pressure following Tuesday's elections, as investors worried that nationwide victories by Democrats could lead to moratoriums on data-center construction, compounded by high borrowing costs.
- Nvidia fell 4.1%, Advanced Micro Devices tumbled 10.7%, and CoreWeave dropped 6.8%, while AppLovin soared 29.9% and Tapestry rallied 9.8% behind Coach and Kate Spade brands.
- Treasury yields held steady following a report showing limited layoffs, while the price of a barrel of Brent crude oil rose 2.3% to $96.76 amid uncertainty over the Iran war.
- London's FTSE 100 rose 0.6% as the Bank of England increased interest rates for the first time in three years, while analysts note corporate profits matter more than political control in Washington.
13 Articles
13 Articles
AI Stocks Keep Falling as Oil Prices and Bond Yields Steady Following Their Post-Election Slides
NEW YORK (AP) — U.S. stocks are mixed, as AI chip companies fall again while AppLovin and Tapestry rally after reporting stronger profits than analysts expected. The S&P 500 fell 0.4% Thursday, coming off its best day in three months. The Dow Jones Industrial Average added 265 points, and the Nasdaq composite fell 1.1%. AI-related stocks worldwide felt pressure from worries that Tuesday’s U.S. elections could mean moratoriums for data centers in…
Boston Herald
Durango HeraldMore drops for Nvidia and other AI chip stocks erase Wall Street’s rally from the day before
More drops for AI chip stocks are dragging the U.S. market lower, even as the majority of Wall Street rises following strong profit reports.
More drops for Nvidia and other AI chip stocks erase Wall Street's rally from the day before
NEW YORK (AP) — More drops for AI chip stocks are dragging the U.S. market lower, even as much of Wall Street rises following strong profit reports from AppLovin, Tapestry and other companies. The S&P 500 fell 1.8% Thursday and erased all of its gain from the prior day, which was its best in three months. The Dow Jones Industrial Average dropped 403 points, and the Nasdaq composite fell 3%. AI-related stocks worldwide felt pressure from worries …
AI stocks weigh on markets Thursday as oil rises to highest price since May
Drops for stocks in the artificial-intelligence industry are dragging markets down worldwide on Thursday, while oil prices hit their highest levels since May amid the war with Iran. The S&P 500 sank 1.3 per cent following even sharper losses in Asia, whose markets are full of AI and other technology stocks. The Nasdaq composite was [...]
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