S&P 500, Nasdaq end sharply lower as revived AI doubts ignite tech selloff
Investors sold tech shares after earnings raised fresh doubts that costly AI spending will quickly pay off.
- On Thursday, Wall Street's main indexes opened lower as growth stocks faced renewed pressure following earnings from Tesla and Meta, while Brent crude rebounded above $111 a barrel.
- AI-Related stocks have been shaky amid worries that the industry's boom faces threats from high borrowing costs for data centers and chips needed to fuel expansion.
- Nvidia dropped 4.3 per cent as the largest chip stock by market value; CoreWeave fell 9.6 per cent amid debt concerns. JPMorgan traders cited "the still fragile narrative around AI financing concerns" in a note.
- Investors sought safety in government bonds Thursday, pushing the 10-year Treasury yield down to 4.98 per cent from 5.13 per cent on Wednesday as the S&P 500 and Nasdaq Composite declined.
- Oil prices hit their highest levels since May amid uncertainty over the war with Iran, as Procter & Gamble CEO Shailesh Jejurikar said the company expects "geopolitical and economic challenges" to continue.
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Asian shares slip as sharp drops for AI stocks overwhelm markets worldwide and oil prices jump – WTOP News
Asian shares were mostly lower Friday after the latest shudder for artificial-intelligence stocks weighed on markets around the world, giving the benchmark S&P 500 its worst day since July. Oil prices were hovering at their highest levels since May on worries about the war with Iran, with Brent crude up 0.5% at $113.73 per barrel....
Sharp drops for AI stocks overwhelm markets worldwide as oil prices jump - WXXV News 25
By STAN CHOE NEW YORK (AP) — The latest shudder for stocks in the artificial-intelligence industry pulled markets lower worldwide on Thursday, while oil prices hit their highest levels since May on worries about the war with Iran. The S&P 500 fell 1.2% for its worst day since July, while the Nasdaq composite tumbled 2.6%. The weakness for tech stocks...
Asian shares slip as sharp drops for AI stocks overwhelm markets world
Asian shares were mostly lower Friday after the latest shudder for artificial-intelligence stocks weighed on markets around the world, giving the benchmark S&P 500 its worst day since July. Oil prices were hovering at their highest levels
The Dow Jones Industrial Average stock index ended the bidding on Thursday with a small margin, S&P 500 and Nasdaq Composite fell sharply following the listings of technology companies. Nasdaq fell as much as possible from June (2.6 per cent) against a new wave of investors' fears about the large costs of artificial intelligence companies.
Nasdaq Falls More Than 750 Points as Investors Question Returns on Massive AI Spending
Internewscast Internewscast Stocks suffered a steep sell-off Thursday as investors questioned whether the enormous… This Post: Nasdaq Falls More Than 750 Points as Investors Question Returns on Massive AI Spending first appeared on Internewscast
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