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Nasdaq Plunges on AI Valuation Fears; Oil Surges on Middle East Escalation

Reuters Read original source (opens in a new tab)
The Story

News Summary

  • Tech stocks and major indexes plummeted amid rising Middle East tensions and growing skepticism over the sustainability of AI capital expenditure.
  • Meanwhile, crude oil prices surged over 2-3% as Iran threatened to close the vital Strait of Hormuz, driving up government bond yields.
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