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The Guardian - UK
The Guardian - UK
Business
Lauren Almeida and Graeme Wearden

Stock markets fall as concerns persist over tech firms at heart of AI boom

Iran Israel Oil United States Donald Trump
A man in a light shirt walks past a large screen displaying stock market data showing a declining index
Trading on the South Korean Kospi was briefly suspended on Monday after the index plunged almost 9%. Photograph: Jeon Heon-Kyun/EPA

Stock markets have fallen amid concern about the prospects for tech stocks, while oil prices have risen after renewed conflict in the Middle East dampened hopes that the strait of Hormuz would soon reopen.

Markets in Asia and Europe fell on Monday after a sharp sell-off in US tech stocks late last week, as investors fretted over how firms at the forefront of the artificial intelligence boom would fund their “eye-watering” spending plans.

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