Wall Street falls as AI stocks slide and oil prices climb

invezz.com (Dutch) —

Wall Street closed sharply lower on Friday as renewed selling in artificial intelligence-related stocks and rising oil prices dampened investor sentiment, with the Nasdaq Composite falling over 2% and the S&P 500 losing 1.1%. The Dow Jones Industrial Average fell 189.01 points, or 0.36%, to 51,990.05, while the S&P 500 dropped 1.10% to 7,658.62 and the Nasdaq lost 2.15% to 26,137.85. Concerns over AI infrastructure debt, persistent inflation, and Federal Reserve policy drove risk reduction before the weekend, with the VIX volatility index rising above 22 for the first time in four months. Oil prices surged nearly 4% on Middle East and Russia-Ukraine supply risks, with WTI closing at $101.41 per barrel, adding to inflation worries after hotter-than-expected consumer and producer price reports. Investors now await Fed policy signals and upcoming earnings from Tesla, Meta, and Procter & Gamble.


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