Markets were mixed today as an AI-led selloff spread across tech and weighed on sentiment. The TSX slipped 0.16% while the TSX Venture Index gained 0.40%, and in the U.S. the Dow rose 0.31% while the Nasdaq fell 1.09% as concerns over AI financing hit chip and infrastructure names. The FTSE 100 climbed 0.78%.
Gold rebounded 1.28% and oil edged up 0.64%, while copper fell 1.09% and Bitcoin dropped 1.74% to just under C$114,000 as the U.S. dollar price slid toward $80,000 after a hot inflation print scared risk traders. In corporate news, the Trump administration doubled its equity stake in chipmaker GlobalFoundries, sending the shares lower.
Market numbers
TSX: Down (-0.16%) 35,526.93
TSXV: Up (+0.40%) 833.61
DOW: Up (+0.31%) 51,757.1
NASDAQ: Down (-1.09%) 29,449.1
FTSE 100: Up (+0.78%) 10,796.88
In the headlines
- Nvidia sinks amid concerns over AI financing: Nvidia (NASDAQ:NVDA), the dominant AI chipmaker, fell as investors grew uneasy about how the AI buildout is being financed. Baird’s Mortonson said Wall Street is tiring of the circular funding arrangements that have seen chipmakers like Nvidia, AMD and Broadcom effectively act as banks for their own customers.
- Dell drops 11% as Barclays questions AI upside: Dell Technologies (NYSE:DELL), the enterprise technology and infrastructure company, tumbled after Barclays questioned whether the growth from AI servers is already priced into the stock. The downgrade adds to doubts about how much further the AI hardware rally can run.
- CoreWeave drilled again after panic-filled rout: CoreWeave (NASDAQ:CRWV), the AI cloud computing provider, extended its slide a day after a panic-driven selloff. The volatility reflects growing investor concern around the debt-fueled expansion of AI infrastructure companies.
Currencies
USD: Up (+0.28%) $0.7040
GBP: Down (-0.26%) $0.5307
EUR: Down (-0.27%) $0.62798
JPY: Down (-0.18%) ¥111.027
AUD: Up (+1.32%) $1.0204
Bitcoin (BTC/CAD): Down (-1.74%) 113,855.2
(Conversion to C$1)
Commodities
Copper: Down (-1.09%) 6.59716
Gold: Up (+1.28%) 4,157.55
WTI: Up (+0.64%) 94.60
Natural Gas: Down (-0.58%) 3.246
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