US Stocks Today: US Stocks Open Lower After AI Rout; SpaceX Worries Hit Telecoms
Nvidia and Meta led declines as investors questioned AI valuations and debt-fueled spending, while Brent crude climbed 4% on war-related supply concerns.
- Wall Street's main indexes opened lower on Friday as caution prevailed following a sharp selloff in AI-linked stocks, while telecom stocks tumbled on fears that intensified competition from SpaceX could erode their market share.
- The latest shudder for stocks in the artificial-intelligence industry pulled markets lower worldwide, while Brent crude oil leaped 4% to $113.17 after touching its highest level in five months on worries about the war with Iran.
- Nvidia dropped 4.4% amid the broader tech slump, while Kim Forrest, chief investment officer at Bokeh Capital Partners, said, "This is the short term where the selloff is extreme, and I don't think there are fundamental reasons for it."
- U.S. government bonds drew investors seeking safety as the 10-year Treasury yield tumbled to 4.97% from 5.13% late Wednesday, while Procter & Gamble limited market losses by topping profit expectations.
- Market focus remains on next week's earnings reports from Microsoft, Alphabet and Amazon, while the Federal Reserve is expected to keep interest rates unchanged at its policy meeting next week.
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19 Articles
The three major New York stock indices opened lower. Selling pressure on artificial intelligence (AI) stocks and rising international oil prices are believed to have weighed on investor sentiment. At 10:22 a.m. local time on the 23rd, the Standard & Poor's (S&P) 500 index on the New York Stock Exchange (NYSE) recorded 7,621.78, down 41.65 points (0.54%) from the previous trading day. At the same time, the Dow Jones 30 Industrial Average was 757.…
Wall St opens lower after AI rout; SpaceX worries hit telecoms - Regional Media News
Oct 23 (Reuters) - Wall Street's main indexes opened lower on Friday as caution prevailed after a sharp selloff in AI-linked stocks, while telecom stocks tumbled on fears that intensified competition from SpaceX could erode their market share. The Dow Jones Industrial Average fell 171.3 [...]
The Economic Times
Times of IndiaUS stocks today: US stocks open lower after AI rout; SpaceX worries hit telecoms
Wall Street's main indexes open lower as investors remain cautious after a sharp selloff in AI-linked stocks. Telecom shares also fall on concerns that intensifying competition from SpaceX could pressure market share. The Dow Jones, S&P 500 and Nasdaq all decline at the opening bell.
Wall St opens lower after AI rout; SpaceX worries hit telecoms
Oct 23 (Reuters) - Wall Street's main indexes opened lower on Friday as caution prevailed after a sharp selloff in AI-linked stocks, while telecom stocks tumbled on fears that intensified competition from SpaceX could erode their market share. T...
AI, tech losses dwarf other stocks’ growth | Northwest Arkansas Democrat-Gazette
NEW YORK -- 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.
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