US stocks sink and oil prices rise as worries about AI, inflation and possible war hit Wall Street
US stocks sink and oil prices rise as worries about AI, inflation and possible war hit Wall Street is drawing significant interest across the industry.
U.S. stocks are sinking as Wall Street gets back to hunting companies that could become losers because of the AI revolution. A surprisingly discouraging update on inflation is also hurting the market Friday, while oil prices climb with worries about tensions between the United States and Iran. The S&P 500 fell 0.7% and is staggering toward the finish of what could be just its second losing month in the last 10. The Dow Jones Industrial Average dropped 727 points, and the Nasdaq composite fell 0.9%. Block’s stock soared after cutting nearly half its workforce because it said AI tools can replace them.
Experts suggest this could influence future trends and innovation in the sector.
More updates are expected as the story develops.
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