AI spending jitters and US midterms rattle global stocks

Global stock markets wavered Tuesday amid investor nervousness over heavy debt-fueled spending by AI companies, while attention centered on US midterm elections that could reshape President Donald Trump's final two years in office. Oil prices resumed declines on hopes of easing US-Iran tensions after Trump suggested a deal was possible, helping Wall Street steady after recent losses, with the tech-heavy Nasdaq up nearly one percent. Investors also weighed earnings from major tech firms showing continued massive AI investments despite growing impatience for returns. Asian tech shares fell sharply, with South Korea's Kospi dropping over three percent, while European indices ended little changed, pressured by energy giants like BP and Shell. Apple shares slipped 2.3 percent after warning that rising memory chip costs would hit profit margins.