Sale of AI shares spilling into more sectors

U.S. stocks fell Friday as a sell-off in artificial intelligence and technology shares spread to more sectors, amid concerns about a potential bubble and interest rates. CoreWeave dropped more than 13%, while Tesla fell over 2% after unveiling a new Roadster. The S&P 500 declined 1.09% to 7,659.41, the Dow fell 0.34% to 52,001.52, and the Nasdaq lost 2.14% to 26,140.03. Energy stocks were among the day’s strongest performers. Brent crude rose close to $110 per barrel in late trading.

The U.S. government also ended its fiscal year with its largest budget deficit since 2021.

(pb.pl)