20 Hrs
Source:
الاقتصادية
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Global stocks fall amid AI concerns
Global stocks declined after the failure of major technology companies' earnings to support the recovery of AI markets and their performance, amid fears of slowing growth and anticipation of results from companies like Microsoft and Alphabet. The Nasdaq 100 index dropped by 1.3%, while the KOSPI index experienced a sharp decline of 3.3%. Shares of companies such as Tesla fell by 3.3% after lowering their capital expenditure forecasts, whereas Meta increased its bets on artificial intelligence, with its shares rising by 2.2%. Additionally, tensions in the Middle East, including attacks on Saudi oil facilities, led to a significant rise in oil prices, as concerns grew over how hostile actions might impact supply. Investors shifted towards safe-haven assets like U.S. Treasury bonds, which hit their lowest levels in a month, with long-term bond yields declining and demand for safe assets rising, reflecting weak confidence in the sustainability of the AI trading boom and expectations that the profitability of major companies will largely halt supporting the market.
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