Global stocks fall amid AI doubts
Global equities declined broadly after the results of major tech companies fell short of investor expectations regarding the recovery of the AI market. The Nasdaq 100 index dropped by 1.3%, and the S&P 500 by 0.7%. Asian indices such as Kospi and CSI 300 also fell, with many entering a bear market territory. Major companies like Tesla and Meta were also affected by mixed earnings reports; Tesla lowered its capital expenditure forecasts, while Meta increased its investments in AI. Oil prices rose over 2% following deadly attacks in Saudi Arabia, raising concerns that escalation in the Middle East could impact supply. Meanwhile, demand for safe-haven assets like U.S. Treasury bonds and the Japanese yen continued to grow. Currently, earnings results are raising questions about the technology sector's ability to sustain growth amid high costs and expectations of slower returns, with ongoing concerns over inflated valuations and the potential formation of a bubble in the AI market.
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