The Guardian · AI
AI selloff drags global markets lower as oil reaches highest level since May
AI shares slumped on Thursday as data center and chip costs weighed on the sector, dragging global markets lower. Most US stocks nevertheless rose, but technology losses overshadowed strength elsewhere. Oil prices reached their highest level since May amid concerns about the war with Iran.
Source published: Brief prepared:
What to know
- 01
A 1.2% loss marked the S&P 500's weakest session since July; the Nasdaq composite declined 2.6%.
- 02
The Dow Jones Industrial Average edged up 11 points, a gain of less than 0.1%.
Why it matters
Technology losses alongside gains for most US stocks provide important context for understanding the global market decline.
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