Oil Tops $111 as AI Stock Losses Weigh on Global Markets
Edited by Steinar Vigdel Kolnes, Editor, Oslo
Brent crude reached a five-month high as declines in Nvidia, Meta and chip stocks weighed on the S&P 500 and Asian equity markets.
Brent crude rose above $111 to its highest level in five months, while losses in artificial intelligence-related shares pushed stock markets lower.
Nvidia, Meta and semiconductor stocks declined, weighing on the S&P 500 as the weakness extended across global equities.
Major Asian indexes fell by as much as 3.5%. The latest declines came a week after South Korea’s Kospi recorded a 7.57% drop.
Source: Decrypt
