ABCNEWS (ABC News: Top Stories) - Oil prices stay above $108 and Asian shares decline, tracking Wall Street losses
Asian shares are declining while tracking Wall Street losses
Asian shares are declining while tracking Wall Street losses
Rising oil prices have added to existing inflationary pressures and exacerbated a bond-market sell-off earlier this week.
NEW YORK (AP) — Oil prices are falling again on Tuesday, which is helping to ease worries in the bond market and support stock prices. The S&P 500 rose 0.3% and edged a bit closer to its all-time high set earlier this month. The Dow Jones Industrial Average was up 80 points, or 0.2%, as [...]
Markets have been lashed between disruptions in the Strait of Hormuz and anxiety about massive corporate investments in artificial intelligence.
Stocks in Asia were down following a sell-off in the U.S. markets over soaring oil prices, rising borrowing costs and worries about the technology industry.
Stocks in Asia were down following a sell-off in the U.S. markets over soaring oil prices, rising borrowing costs and worries about the technology industry.
The S&P 500 tumbled more than 1 percent, while the tech-heavy Nasdaq Composite sank more than 2 percent.
Investors are growing uneasy about increasing competition from China in the global race to dominate artificial intelligence.
Oil prices are climbing following a weekend of attacks in the Middle East.
Data: BIS ; Chart: Danielle Alberti/Axios Today's AI buildout resembles earlier technological revolutions and capital booms that ended in painful busts. - That's the new warning from the Bank for International Settlements, a top forum known as the "central bank for central banks." Why it matters: The technological revolutions that transform the economy have a long history of attracting more investment than what near-term returns justify. - The risk is that AI follows the same pattern at a moment when the global economy is unusually reliant on a single investment boom to keep the expansion on track. Flashback: Some of the world's greatest technological breakthroughs — canals, railroads, the internet — sparked enormous investment…