Global Stocks Slide as Economic Updates Offset Strong Earnings
World stock markets were mostly lower on Thursday following modest losses on Wall Street. The decline was largely driven by economic updates, including slower growth in industrial profits in China and higher inflation rates in the US.
Nvidia's shares jumped 7.2% after its latest quarterly earnings beat expectations, thanks to strong demand for its advanced artificial intelligence chips. This has sparked concerns among investors about an AI bubble, as big investments by tech giants in AI may not generate enough profits within an expected timeframe to justify rising costs.
Meta Platforms added 1.1% after agreeing to pay up to $18 billion and add child-safety measures to Facebook and Instagram to settle claims filed by states across the country.