Stocks Fall as AI Fears Rumble
Newser • • business
Key Points:
- Booking Holdings' stock declined despite reporting a quarterly profit slightly above analysts' expectations, with its share price down about 25% this year amid investor concerns over AI threats.
- Private-credit firms like Blue Owl Capital, Apollo Global Management, and Ares Management also saw significant stock drops due to fears surrounding companies vulnerable to AI disruption.
- Carvana's shares fell 8% despite stronger-than-expected profits, as investors focused on lower-than-anticipated profit per vehicle sold, while Walmart's stock fluctuated after delivering better quarterly results but a disappointing profit forecast.
- Deere's stock surged 11.6% following a profit beat and optimistic comments about recovering demand from construction and smaller agricultural customers, despite ongoing challenges for large global agricultural clients.
