Inflation anxiety drags on AI stocks for a second day as markets point to a mixed open
- Artificial intelligence stocks extended their decline on Thursday as investors weighed inflation concerns ahead of the U.S. earnings season and potential interest rate hikes.
- Inflation figures released Wednesday showed prices remain well above the Federal Reserve's 2% target, putting another interest rate hike in play before year-end and pressuring equities.
- Major tech holdings retreated sharply in early trading: Advanced Micro Devices fell 3.1%, Nvidia dropped 1.6%, and CoreWeave slid 3.8% after tumbling 15.5% a day earlier.
- Asian markets faced significant pressure as South Korea's Kospi index dropped 7.6% and Japan's Nikkei 225 fell 4.9%, while SK Hynix plunged 11.1% and SoftBank Group lost 9.3%.
- Lorraine Tan, director of equity research for Asia at Morningstar, warned of a "mismatch between the market's growth expectations for the tech sector and what may eventuate," citing risks to AI spending.
39 Articles
39 Articles
By John Towfighi, CNN Technological actions lived a busy week, as various factors—including higher interest rates and the growing debt associated with artificial intelligence (AI)—continued to affect investors' feelings.The Nasdaq Composite index dropped by 2.14% this Friday, raising their weekly losses to
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The S&P 500 and Nasdaq knifed below their 50-day lines as CoreWeave led a broad tech sell-off. Tesla, SpaceX, Meta earnings loom. The post Dow Jones Futures: S&P 500, Nasdaq Break Key Levels As CoreWeave, Dell Dive; Tesla, SpaceX, Meta Loom appeared first on Investor's Business Daily.
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By Anna Szymanski Oct 16 (Reuters) – Hello Morning Bid readers! Are we reaching an inflection point? Whether it’s the AI boom, the escalation in the Middle East, or the relationship between the US and Ukraine, this week brought further signs that markets and geopolitics may be nearing a breaking point. A significant AI-related selloff hit global markets this week amid growing concerns that rising interest rates could create funding challenges as…
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