International markets update:
Markets experienced a significant sell-off as renewed concerns over AI company spending and escalating geopolitical tensions pushed investors into risk-off mode. This led to a broad market decline, while bond yields fell and oil prices surged.
- US equities saw a broad sell-off, with the tech-heavy Nasdaq plummeting over 2% and the S&P 500 recording its largest decline since July, driven by renewed AI spending concerns.
- Social media giant Meta Platforms slumped almost 7% after reporting negative free cash flow and raising its full-year capital expenditure outlook, fueling broader worries about AI-related spending.
- The benchmark 10-year U.S. Treasury yield slid more than 17 basis points, dropping below 5% for the first time in a month and marking its largest one-day decline since March 2023.
- Oil prices surged, with Brent crude futures gaining 4% to $113.17 per barrel, reaching its highest level since May, as geopolitical tensions escalated on reports of potential strikes on Iran.
Stock Market News summarised for the Wall Street Investors Club community.