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Investors hunt for possible AI losers
Cisco Systems shares fell 12.3% amid investor concerns about AI disruption; the S&P 500 dropped 1.6% as market punished companies vulnerable to artificial intelligence shifts.
- On Feb 12, U.S. stocks fell sharply as investors intensified a selloff of technology and transport shares, pushing the S&P 500, Nasdaq Composite, and Dow Jones Industrial Average sharply lower.
- Worries about AI and automation, Cisco Systems' weak margin outlook and an Algorhythm Holdings tool targeting trucking pressured technology and transportation companies Thursday.
- AppLovin was the session's biggest decliner, tumbling 19.7% despite stronger fourth-quarter profit, while Equinix jumped 10.4% after forecasts topped expectations and CEO Adaire Fox-Martin said `demand for our solutions has never been higher`.
- Investors rotated into utilities, consumer staples and real estate, pushing Treasury yields down as Walmart and McDonald’s rallies helped limit S&P 500 losses.
- UBS strategists warned AI's timing is uncertain and could raise defaults in junk bonds, lifting borrowing costs even for Big Tech funding AI spending in this `prove it` year for AI.
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18 Articles
18 Articles
Coverage Details
Total News Sources18
Leaning Left1Leaning Right4Center3Last UpdatedBias Distribution50% Right
Bias Distribution
- 50% of the sources lean Right
50% Right
13%
C 37%
R 50%
Factuality
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