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Barchart
Barchart
Rich Asplund

AI Fears and Surging Crude Oil Prices Weigh on Stocks

The S&P 500 Index ($SPX) (SPY) today is down -0.66%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +0.03%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -1.30%.  June E-mini S&P futures (ESM26) are down -0.63%, and June E-mini Nasdaq futures (NQM26) are down -1.27%.

Stock indexes are under pressure today, led by losses in technology stocks amid concerns that the massive investment in artificial intelligence will not pay off.  The Wall Street Journal reported that OpenAI recently failed to meet its goals for new users and sales, undercutting the shares of OpenAI partners and AI infrastructure stocks, including Nvidia, Oracle, Advanced Micro Devices, and CoreWeave.

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