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Stocks Decline Amid AI Fears and Geopolitical Risks
Barchart - Thu Feb 19, 3:33PM CST
The S&P 500 Index ($SPX) (SPY) on Thursday closed down -0.28%, the Dow Jones Industrial Average ($DOWI) (DIA) closed down -0.54%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.41%. March E-mini S&P futures (ESH26) fell -0.25%, and March E-mini Nasdaq futures (NQH26) fell -0.40%.
Stock indexes settled lower on Thursday, led by losses in chipmakers and AI-infrastructure stocks, amid renewed caution over the outlook for artificial intelligence. Concerns remain that AI could disrupt entire sectors of the economy and that the huge investments in the technology may not pay off. Stocks also face some negative carryover from Wednesday, when the minutes of the Jan 27-28 FOMC meeting stated that “several” policymakers suggested the Fed may need to raise interest rates if inflation stays above its goal.
Geopolitical risks also undercut stocks on Thursday. WTI crude oil (CLH26) rose more than +1% to a 6.5-month high on comments from the head of the United Nations nuclea... Read more
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