Nasdaq posts worst week since June as oil hits $110 and AI stocks sell off

The Nasdaq fell about 4% for the week ending October 16, its worst weekly drop since June. The S&P 500 lost about 2%. CoreWeave dropped 12% Friday and about 25% for the week; its bonds pushed yields above 15%. The Philadelphia Semiconductor Index fell for an eighth straight day. Brent crude settled at $109.86 Friday, up 3.7% on the day and touching $110 for the first time since May, on Middle East supply fears. CPI rose 3.7% year-over-year and PPI 6.3%, the largest annual PPI gain since December 2022. Energy stocks rose; tech led the decline.

https://www.cnbctv18.com/market/nasdaq-snp-500-dow-jones-wall-street-fall-friday-ai-stocks-debt-oil-prices-semiconductor-etf-cboe-vix-weekly-loss-20013994.htm

https://www.financialexpress.com/world-news/oil-hit-110-for-first-time-since-may-raises-fresh-concerns-over-us-inflation-fed-rates/4363574/