Stock Futures Slide as AI Doubts Return and Oil Jumps
U.S. stocks fell Thursday as AI shares slid and oil hit its highest level since May. Reports of planned strikes on Iran deepened the drop.
2.3% drop in the Nasdaq by late morning; S&P 500 fell 1.3%.
$111.32 per barrel for Brent crude, up 2.3%.
6.1% slide in Meta shares despite a 26% revenue jump.
5.00% yield on the 10-year Treasury, down from 5.13%.
Why it matters: Investors are weighing whether heavy AI spending will pay off as borrowing gets more expensive. Oil prices also depend on how the war with Iran unfolds.
Gasoline has stayed above $4 a gallon nationally.
American Airlines gave a wide loss forecast, citing high fuel prices.
Trump often cites stock gains as proof his economic agenda works.
What’s next: The New York Times reported the U.S. and Israel plan an Iran operation after the midterms. Trump told reporters that something will happen fairly soon.
Fed rate decision is due next Wednesday.
Nov. 3 midterms could feel the effects of a market drop.
Will the U.S. and Israel resume strikes on Iran, and when?
Will AI firms find the capital Nvidia CEO Jensen Huang called scarce?
