18 Hrs
Source:
الاقتصادية
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Stock declines deepen as AI concerns grow
Global stock markets sharply declined due to renewed concerns about the impact of artificial intelligence on the market. The MSCI Asia-Pacific Index fell by 1.7%, and the Korean KOSPI index dropped by 6.2%, with shares of major technology companies like Samsung and SK Hynix declining by around 8%. This halted the enthusiasm for AI-related stocks ahead of US corporate earnings reports. Meanwhile, futures contracts for US and European indices declined, and US bonds rose as yields dropped to 5.19%. Oil prices also fell, amid ongoing worries about rising costs and competitive pressures, further stressing stocks amid expectations of weaker corporate results and declining investor confidence in the sustainability of tech gains.
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