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Tech shares pull back ahead of US inflation data
Major tech firms including Apple, Amazon, and Meta dropped over 2% as investors awaited January CPI data for guidance on interest-rate cuts, with the Nasdaq down about 2%.
- Yesterday, Wall Street stocks tumbled as tech shares pulled back, with some large companies losing more than two percent, driving markets lower.
- Awaiting Friday's CPI, investors focus on policy timing as concerns about AI investments contribute to tech sector sell-off and subdued Asia markets.
- Paris ended with a gain while Sanofi sank 4.2 percent after a leadership change, and Siemens jumped 5.8 percent after raising its outlook, illustrating regional divergence.
- Analysts pointed to earnings as a silver lining, with Chris Beauchamp saying `Caught between payrolls and CPI, US markets have found themselves unable to maintain momentum` and Joshua Mahony noting European strength, on Thursday.
- Currencies and crude prices shifted as the euro/dollar rose to $1.1876 and Brent and WTI fell to $67.52 and $62.84 per barrel, reflecting the risk-off tone.
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23 Articles
23 Articles
Coverage Details
Total News Sources23
Leaning Left1Leaning Right8Center6Last UpdatedBias Distribution53% Right
Bias Distribution
- 53% of the sources lean Right
53% Right
C 40%
R 53%
Factuality
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