Global stock markets fall, with Nasdaq down 2.60%
By the AFREEQUE newsroom, based on Seneweb
Major global stock markets fell on Thursday, with the Nasdaq down 2.60%, amid concerns about investment spending on artificial intelligence and rising oil prices. Meta fell 6.98% despite a 26% rise in quarterly revenue, as investors worried about its costs, according to Briefing.com.
Global stock markets ended lower on Thursday amid concerns over the cost of investment in artificial intelligence and rising oil prices, AFP reported. On Wall Street, the tech-heavy Nasdaq fell 2.60%, while the S&P 500 declined 1.21% and the Dow Jones rose 0.02%.
Major European markets also lost ground: Milan fell 2.51%, Madrid 1.98%, Paris 1.42%, Frankfurt 1.04% and London 0.27%. Brent crude rose by 4% to $113.17 a barrel, its highest level since May, according to AFP.
Investors were particularly concerned about Meta’s spending on AI. The US group, which recorded a 26% increase in revenue in the third quarter, plans to invest between $135 billion and $145 billion this year and may have to raise several hundred billion dollars in the coming years, according to analysts at Briefing.com.
The latest rise in oil prices follows earlier movements in Brent, while French government bond yields continue to rise in the wake of the decline in French bonds reported on 19 October in the bond market. Iran’s Revolutionary Guards have also threatened US bases in the region if Washington’s naval escorts in the Strait of Hormuz continue, according to a statement published by Sepah News.
