S&P 500, Nasdaq end sharply lower as revived AI doubts ignite tech selloff
Investors sold megacap tech shares after Meta’s AI spending plans and weaker chip demand raised doubts about returns.
- On Friday, Asian stocks extended losses tracking Wall Street declines as investors rotated out of technology giants. The MSCI regional equities benchmark slipped 0.3 per cent, hovering around levels last seen in July.
- Concerns about AI-related investment sustainability hammered technology shares as Meta Platforms lost nearly 8 per cent after posting its first cash outflow in more than a decade. Tesla also faced pressure after cutting 2026 capital spending plans.
- Money flowed into safe-haven United States Treasuries as yields plunged across the curve. The 10-year yield slid more than 19 basis points to steady at 4.9591 per cent, marking the biggest daily rally in over two years.
- Brent crude hit a five-month peak at US$114 a barrel amid Middle East supply concerns, while the dollar slipped 0.2 per cent to 156.44 yen. Traders pared back expectations for future United States Federal Reserve rate hikes.
- Pepperstone Research head Chris Weston questioned "whether selling accelerates or markets stage another familiar reversal," while ING regional research head Padhraic Garvey cautioned that upcoming midterm elections and Fed policy decisions pose fresh challenges ahead.
226 Articles
226 Articles
Worries about the future of artificial intelligence (AI) investments wiped a trillion dollars off the valuations of technology companies on Thursday. The tense economic environment is starting to weigh on even ambitious AI development plans, and the market is starting to react with extreme sensitivity to even relatively minor news.
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.
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