Traders are looking on the bright side today: Talks between Saudi Arabia and Iran are ongoing, and the credit ratings agency Moody’s left France’s credit rating unchanged from before the riots. The yield on France’s 10-year bonds eased back below the headline-inducing 5% level to 4.94%; similarly, the U.S. 10-year was at 4.99%. U.S. futures
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The bull market stumbled Thursday, with US stocks seeing a fresh sell-off amid the latest surge in oil prices and continued anxiety over the AI trade. Oil jumped as markets digested a New York Times report that the US and Israel are planning strikes on Iran after the midterm elections. The report, which cited US
In an exclusive interview with Fortune’s Jeremy Kahn and Bea Nolan, Nvidia CEO Jensen Huang shrugged off existential-risk warnings from many leaders in the AI space, including Anthropic’s Dario Amodei, saying the technology was “completely in our control.” “I don’t know why anybody would want to support the advancement of a technology that’s going to
There’s a brutal truth lurking beneath the surface of the stock market’s four-year bull run. Since the October 12, 2022 bottom, endless enthusiasm for the AI trade has defined the stock market. It’s also posed uncomfortable questions about just how sustainable a bull rally can be if it’s only being powered by a handful of
Stocks slid Wednesday afternoon after Federal Reserve Chair Kevin Warsh followed the central bank’s first rate hike in three years with a press conference that hinted it wouldn’t be the last. The S&P 500 dropped 1%, heading toward its lowest close since July. The Dow Jones Industrial Average fell 1.7%, or more than 700 points,
