Global stocks muted as AI jitters, US-Iran talks keep investors on edge
The German share price index DAX graph is pictured in Frankfurt, Germany, November 6, 2024. REUTERS/Wolfgang Rattay Purchase Licensing Rights, opens new tab
LONDON/SYDNEY, Feb 17 (Reuters) - Global shares were subdued on Tuesday as concerns about a deeper selloff in artificial intelligence and technology heavyweights unsettled investors, while nuclear negotiations between the U.S. and Iran remained in focus.
Futures tracking the Nasdaq 100 in the U.S. slipped 0.9%, suggesting that the unwind may be far from over even after the index logged three consecutive weekly declines. S&P 500 futures also dipped 0.3%.
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"The markets are taking each sector one-by-one and stress testing their business models to see how resilient they would be to AI disruption," said Axel Botte, head of market strategy at Ostrum Asset Management.
A monthly Bank of America survey showed global investors were increasingly worried that companies are over-investing.
However, the pan-European STOXX 600 index (.STOXX), opens new tab managed to buck the negative global trend and edged up 0.2%, marking a second consecutive day of gains,