US EditionStocks Slump as Inflation, AI Worries Rattle Investors
U.S. wholesale inflation surged to 2.9%, raising Federal Reserve rate cut doubts while AI fears and Iran tensions pushed oil prices up over 3%, analysts said.
- On Friday, U.S. stocks fell, with the S&P 500 down 0.8%, the Dow off 569 points, and the Nasdaq down 1.2%, reflecting a broad market decline.
- Because the inflation reading surprised markets, the wholesale inflation update found U.S. wholesale inflation at 2.9% last month versus 1.6% expected, which could help persuade the Federal Reserve.
- At the company level, Block signaled AI-driven shifts, announcing it would cut nearly half its workforce, while Nvidia shares slumped despite $43 billion in profits, and a widely followed software ETF sank 1.6%.
- Rising Iran–U.S. tensions pushed oil prices up more than three percent as Iran said the U.S. must drop its `"excessive demands"`, with Brent crude at $73.04 and benchmark U.S. crude at $67.27.
- Market strategists pointed to shifting flows toward cyclical sectors as the 10-year Treasury yield hovered near 3.98%, reflecting broader market implications.
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NEW YORK — U.S. stocks sank Friday as Wall Street kept punishing companies that could become losers in the artificial-intelligence revolution. A surprisingly discouraging update on inflation also hurt the market, while oil prices climbed with worries about tensions between…
Stocks Drop in Face of a Series of Concerns
US stocks sank Friday as Wall Street kept punishing companies that could become losers in the artificial-intelligence revolution. A surprisingly discouraging update on inflation also hurt the market, while oil prices climbed with worries about tensions between the US and Iran . The Dow dropped 521.28 points, or 1.1%,...
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