Global Markets' AI Fears: Volatility with Wall Street

AI Doubts Shake Wall Street

Recently, the volatility experienced on Wall Street has led to a significant decline in high-value technology stocks and cryptocurrencies. Fed Governor Christopher Waller indicated that there might be more interest rate cuts, while US Treasury bonds are trying to recover their losses.

Decline in Technology Stocks

With a loss of confidence in artificial intelligence companies, a noticeable decline has been observed in technology stocks. For example, Nvidia Corp. stocks lost 3.8%. These developments caused losses to accelerate as the S&P 500 broke a significant technical level, resulting in a 1.2% decline in the index. Additionally, the Nasdaq 100 fell by 1.9%.

Global Market Indicators

US futures indices are flat, while European stocks are trading positively. The MSCI Asia Pacific Index fell by 0.7%, and South Korea’s Kospi and Japan’s Nikkei 225 indices experienced losses of over 1%.

Currency and Oil Market Winds

The Bloomberg Dollar Index, which rose by 0.21% on Wednesday, continues to maintain its gains. However, geopolitical risks in Venezuela and Russia still overshadow the already weak global supply outlook. Oil prices have drawn attention by rising for the second day.

Fluctuation in Oil Prices

Brent oil initially rose to $61, but lost some of its intraday gains as US President Donald Trump did not address developments in Venezuela. US crude oil WTI is trading above $56.