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US futures dip as AI selloff returns, oil prices rise sharply

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US futures dip as AI selloff returns, oil prices rise sharply

Business News Tech AI US futures dip as AI selloff returns, oil prices rise sharply

US futures are showing a decline, particularly in the artificial intelligence sector, as market pressures mount. The rise in oil prices is linked to ongoing conflicts in the Middle East, contributing to inflation fears. Major companies like Netflix and SpaceX are scheduled to release quarterly results, adding to market uncertainty. Recent unrest in Europe over various societal issues has also impacted market performance.

US futures are mostly lower as artificial-intelligence stocks come under pressure again and oil prices rose amid sporadic fighting in the Middle East. Futures for the S&P 500 fell 0.1 per cent on Tuesday, while those for the Nasdaq declined 0.5 per cent. Futures for the Dow Jones Industrial Average gained 0.2 per cent. Shares of South Korea's AI company Elice Group tumbled 30 per cent on its market debut, with investors seemingly wary of the debt being taken on by companies in the sector, with a recent tech selloff gaining momentum again. AI companies perceived as vulnerable because of start-up costs, like CoreWeave in the US, are being targeted. Shares of CoreWeave, down 30 per cent this month on such fears, tumbled 4.5 per cent before the market opened.

Anxiety over debt in the sector is being fanned due to inflation and rising odds that the Federal Reserve will hike borrowing costs for a second time this year to cool spending and borrowing. 55 a barrel. 25 a barrel. Uncertainty about when the war with Iran will allow the energy industry to return to normal means oil prices are unlikely to ease any time soon.


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