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Commodities

AI Jitters and Oil Prices Send Stocks into Free Fall

Guavy AI Editorial Team
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Oil
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Stocks on Wall Street are experiencing a rough start to the week due to concerns over AI development and rising oil prices. The tech-heavy Nasdaq index fell more than 1% in early trading, with companies like Nvidia, AMD, Intel, and CoreWeave seeing significant declines.

The decline is attributed to industry leaders calling for a slowdown in AI development over the weekend. This move has sparked concerns among investors about the impact on these tech stocks.

Meanwhile, oil prices are also contributing to the market's downturn. The price of Brent crude climbed to near $110 a barrel after Saudi Arabia closed a key pipeline.

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