Wall Street set for weekly declines
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A series of events sent technology and AI-linked stocks into their worst week since April’s tariff-driven sell-off.
Tech stocks dragged the Nasdaq to its worst week since President Trump launched a trade war in April.
U.S. stocks opened lower on Friday, as major Wall Street indexes headed for their first losing week in a month. The S&P 500 was off by 37 points, or 0.6%, at 6,682. The Nasdaq Composite was down 200 points,
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Amazon led the way and jumped 9.6%. The retail giant was by far the strongest force lifting the market after reporting profit for the latest quarter that blew past analysts’ expectations. CEO Andy Jassy said growth for its booming cloud-computing business has accelerated to a pace it hasn’t seen since 2022.
Palantir stock sold off after earnings despite solid results, while comments from bank CEOs have raised concerns about a more severe pullback.
New York City's CEOs and other billionaires spent more than $40 million trying to defeat the mayor-elect. Now they have to live with him.
The Canadian dollar fell to a near six-week low against its broadly stronger U.S. counterpart on Monday, as oil prices declined more than 4% and rising coronavirus infections weighed on investor sentiment.
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Data storage is an important part of AI. That’s why Western Digital and Seagate are among the top gainers in the S&P 500 this year.