S&P 500 logs biggest weekly loss since June as oil at $110, AI trade fears rattle Wall Street
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- ✓The S&P 500 dropped on Friday, marking its biggest weekly loss since June.
- ✓Rising oil prices and AI trade fears rattled Wall Street, pushing tech stocks down.
- ✓John Cunnison said, “The market is just waking up to whether the AI profit engine is durable.” Many chipmakers also saw shares fall.
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- MARKET
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- Moneycontrol
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- 3 Minute(s)
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- India Economy
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The S&P 500 Index dropped on Friday to cap its biggest weekly loss since June, as a spike in crude prices renewed inflation fears while worries about the viability of the artificial intelligence trade pressured chipmakers.
The stocks benchmark sank 1.1%. A wipeout in the shares of cloud-computing services provider CoreWeave Inc. accelerated the rout in tech stocks, sending the Nasdaq 100 Index down 2.5% on Friday for its worst week since April 2025.
“The AI trade has found itself in everything from the stock market to debt markets and inflation figures, all things that have spooked traders this week,” said John Cunnison, chief investment officer at Baker Boyer Bank. “The market is just waking up to whether the AI profit engine is durable.”.
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