Oil tops $113 as AI stocks slide and investors seek Treasuries

Oil prices rose above $113 per barrel on Friday, intensifying inflation fears and triggering a sell-off in AI-related tech stocks, while investors sought refuge in US Treasuries. Brent crude traded at $113.73, up 0.5%, after a 4% jump the previous session. The S&P 500 fell 1.2% and the Nasdaq dropped 2.6% on Thursday, driven by concerns that high financing costs for AI infrastructure could threaten the sector's boom. Meta lost 7% despite beating revenue estimates, while Nvidia fell 4.4% and CoreWeave slid 10.1% on debt worries. The 10-year Treasury yield fell to 4.97% from 5.13% as investors bought safe-haven assets. French 10-year bond yields remained above 5%, and natural gas prices in Europe traded above €90 per megawatt-hour. US jobless claims fell to 194,000, the lowest since July.