US Stocks Slide as Credit Worries Weigh on Tech Sector

what happened

According to ru.tradingview.com, major US stock indexes declined. The Dow Jones Industrial Average dropped 0.34% to 52,002.41, the S&P 500 lost 1.09% to 7,659.44, and the Nasdaq Composite fell 2.14% to 26,140.03. For the week, the tech-heavy index shed about 4.5%, its steepest weekly decline since the week ended June 26.

CoreWeave shares fell 12% and remain more than 50% below their highs earlier this year, as investors question whether AI profits will arrive fast enough to cover expensive debt. Speaking at an IMF event in Bangkok, Federal Reserve Chairman Kevin Warsh declined to offer rate guidance before the October meeting. WTI crude rose $3.44 to $101.41 a barrel after Ukraine renewed attacks on Russian refineries, while the 10-year Treasury yield climbed to 5.097%.

why it matters

Three forces are weighing on markets at once: rising borrowing costs for AI infrastructure, higher long-term yields and more expensive oil. Gold rose to $4,159.50 an ounce, while South Korea's Kospi lost 14% over the week.

market impact

US tech and AI infrastructure: pressure from costlier credit; oil and Treasury yields rising

tags

instruments