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MarketBeat Staff

MarketBeat Week in Review – 10/19 - 10/23

Nasdaq Chris Markoch Jeffrey Neal Johnson Leo Miller NYSE Ryan Hasson Thomas Hughes Artificial Intelligence MarketBeat Week in Review General Motors

The market sell-off continued, showing signs of spreading beyond the tech sector. One culprit was oil. Increasing tensions in the Middle East lifted Brent crude oil to a six-month high of around $116 a barrel. U.S. oil prices climbed back above the psychologically important $100-per-barrel mark. That adds to inflation concerns.

Concerns about AI are also a contributing factor. Neocloud stocks such as CoreWeave (NASDAQ: CRWV) have been among the hardest hit. Projections for massive capital expenditures from SpaceX (NASDAQ: SPCX) also raise concerns about returns on AI infrastructure investments. The upcoming midterm elections add another layer of uncertainty surrounding AI infrastructure development.

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