Euro zone business growth hits over 3-1/2-year high despite inflation worries, PMI shows - Reuters

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A sell-off for artificial-intelligence stocks is hitting Wall Street again after whipping around the world on worries about how much longer the AI frenzy will last. The S&P 500 fell 0.5 per cent early Thursday, and the Nasdaq composite 1.2 per cent. The Dow Jones Industrial Average rose 269 points. Among tech stocks, Nvidia fell 3.2 per cent and Advanced Micro Devices lost 5.4 per cent. South Korea’s Kospi index sank 7.6 per cent. The losses came as another report signaled inflation has worsened by even more in the United States than economists expected. Wholesale inflation jumped last month, driven by a big increase in energy costs. Tech stocks appeared to be headed for another sell-off before the bell with inflation anxiety hammering that high-growth sector ahead of the U. S. earnings season. Artificial intelligence stocks were down again after taking a beating a day earlier. Story continues below advertisement

S. inflation data sent the Nasdaq to a sharply lower close on Wednesday, with worries about more interest rate hikes from the Federal Reserve pummeling shares of Oracle, CoreWeave and other ⁠AI ​stocks sensitive to higher borrowing costs. Increased bets that the Fed will need more rate hikes to tame inflation dealt a sharp blow to some of the market’s biggest gainers of 2026. Oracle lost 8.8%, while AI-infrastructure firms CoreWeave and Nebius tumbled 15% and 10%, respectively.