Commodities
AI Stocks Plunge Amid Calls for Global Slowdown and Soaring Oil Prices
Artificial-intelligence stocks are experiencing a downturn worldwide after industry leaders warned of a potential slowdown to ensure human safety. This comes as oil prices have surged, pushing the 10-year Treasury yield to 5% for the first time since 2023.
The S&P 500 fell by 0.6%, while the Nasdaq composite, which includes many tech stocks, dropped along with AI shares. Despite this, gains in other sectors outside of AI helped minimize market losses.