Oil spikes, stocks fall on Iran and AI fears
Semafor
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Oil hit $100 a barrel and Magnificent 7 stocks shed nearly $800 billion in market value on Thursday, as pessimism over steep AI spending and the Iran war dragged down global markets.
Tesla Plunges $200B as Tech Sells Off
- Tesla sees a $200 billion wipeout as investors pan Musk’s plan to spend ‘as fast as we can’ MarketWatch —
- Magnificent 7 Loses $767 Billion as AI Skeptics Dump Tech Stocks Bloomberg —
- ASX set to slump as oil surges over $US100, Tesla and Alphabet tumble The Age —
- Tesla stock suffers double-digit drop on carmaker’s worst day in years The Guardian —
- Earnings at Musk's Tesla fall as spending on research cuts into profit from selling cars PBS —