In the U.S. stock market on the 16th, the Dow fell back as selling intensified in AI-related stocks. The Nasdaq suffered a sharp decline, while rising crude oil futures also dampened investor sentiment.
The Dow Jones Industrial Average closed at $50,202.41, down $175.28 from the previous day, as selling in AI-related stocks weighed on the market. The Nasdaq Composite Index fell sharply to 26,140.034, down 572.992 points from the previous day.
CoreWeave, which operates AI infrastructure, fell as much as 14%, and the yield on its bonds maturing in 2032 rose. Some observers attributed the broader market's unease to uncertainty over the sustainability of AI investment and financing.
Among Dow components, Cisco Systems, NVIDIA, Microsoft and Salesforce were sold, while Goldman Sachs and IBM also fell. Chevron, Coca-Cola and P&G, meanwhile, rose.
In the oil market, front-month WTI rose to the upper end of the $101 range. There was a view that high oil prices would persist against a backdrop of heightened tensions in the Middle East and developments in the Russia-Ukraine situation.