Wall Street Stabilizes After Sell-Off, Posts Weekly Losses

Wall Street indexes stabilized after a tech sell-off, but recorded weekly losses. Inflation data failed to reverse investor caution regarding artificial intelligence and interest rates.

The Dow Jones Industrial Average rose marginally by 0.10%, while the S&P 500 and Nasdaq posted weekly losses of over 1% and approximately 2%, respectively.

The consumer price index rose by 0.2% in January, with an annual rate of 2.4%, lower than expected. Investors are assessing the impact of artificial intelligence on employment and inflation.

Concerns about artificial intelligence affected sectors such as software, finance, real estate, and media. Stocks such as Charles Schwab, Morgan Stanley, Walt Disney, and Netflix came under pressure.

JPMorgan analysts note that the market is struggling to assess the full potential of artificial intelligence, increasing volatility.

Video game stocks also experienced pressure following the presentation of artificial intelligence tools such as Google's Project Genie.

Despite the pressure, several S&P 500 stocks recorded new 52-week highs, mainly from the energy and utilities sectors.

Source: www.newmoney.gr