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The Economic Times
The Economic Times
Business

Industrial stocks lose momentum as Iran war, AI reversal take toll

Iran Brian Mulberry Oil Artificial Intelligence

A sudden reversal in momentum for previously high-flying shares of industrial companies over the past three weeks has some investors bracing for more pain ahead.

The S&P 500 Industrials Index has tumbled 6.1% since reaching its last record on Aug. 14 as the Iran war once again pushed up oil prices and the artificial intelligence trade went into reverse.

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