Stocks Whipsaw as AI Worries Linger on Wall Street | Closing Bell

Описание: Watch comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Katie Greifeld, Carol Massar and Tim Stenovec.

Traders struggling to assess the outlook for artificial intelligence whipsawed stocks in another volatile session on Wall Street. Gold and silver tumbled. Bitcoin extended its February rout.

The S&P 500 erased a nearly 1% slide, but almost gave up its gain in the last stretch of trading. A closely watched ETF tracking software firms slipped 2.2%. In late hours, Meta Platforms Inc. said it agreed to deploy “millions” of Nvidia Corp. processors over the next few years.

The turmoil unleashed by AI reflects concerns that are increasingly at odds. One is that it’s set to disrupt segments of the economy so deeply that investors dump stocks of any company seen at the slightest risk of being displaced. The other is a skepticism that AI spending will pay off soon. 

The S&P 500 rose 0.1%. The index briefly breached its average price of the past 100 days. The yield on 10-year Treasuries advanced one basis point to 4.06%. The dollar wavered. The pound slid as data showing UK unemployment at a five-year high prompted bigger bets on rate cuts. 
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