AI Spending Fears Shake Stocks as Oil Hits $114
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STRATO shares a market update on Wall Street’s selloff, driven by concerns over AI infrastructure spending and Middle East tensions pushing Brent crude near $114 per barrel. The announcement also highlights pressure on gold and silver ahead of the Federal Reserve meeting and invites the community to trade predictions on STRATO Odds.
NEW: AI spending concerns trigger Wall Street selloff as Middle East tensions drive oil higher
Stocks: The Nasdaq Composite fell 2.6% on Thursday, its steepest decline since June, while the S&P 500 lost 1.2%. NVIDIA dropped around 4% as investors questioned the financing costs and profitability of major AI infrastructure investments.
Oil: Brent crude reached a five-month high near $114 per barrel on Friday following Houthi attacks in Saudi Arabia and renewed concerns over Middle Eastern energy supplies. Higher energy costs are adding to inflation pressures ahead of next week’s Federal Reserve meeting.
Gold & Silver: Gold briefly fell below $4,000 per ounce, reaching its lowest level since July. The metal has lost approximately 3.5% this week, while silver declined to around $53.84. Rising oil prices and expectations of prolonged higher interest rates continue to pressure precious metals.
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