Market Indexes Sink as Oil Tops $100 Amid Rising AI Costs
The Nasdaq dropped 2.6% as mega-cap tech earnings arrived with a reality check. Rising oil prices and ballooning AI capex are weighing on market sentiment.
Overview
The major indexes are under broad pressure on Thursday. Investors process what it actually costs to build the AI future everyone keeps talking about, and the Iranian conflict is driving oil prices higher.
The Nasdaq Composite (NASDAQINDEX: ^IXIC) is down 2.6% at 11:54 a.m. ET, taking the worst of the damage. But everything is down, just by different amounts. The S&P 500 (SNPINDEX: ^GSPC) has dropped 1.4%, while the Dow Jones Industrial Average (DJINDICES: ^DJI) is down 1%.
Details
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.