A second day of selling pressure hit technology stocks tied to the AI theme on Wednesday, as sentiment cooled after an MIT report questioned the broad profitability of the new technology.
The U.S. President warned that progress would depend on concessions from both sides, stating that Ukrainian President Volodymyr Zelenskyy would need to show some ‘flexibility.’
Investor risk sentiment paused at the start of the week, as markets awaited details expected to emerge later when President Donald Trump meets with Ukrainian President Volodymyr Zelenskyy and European leaders.
The Alaska Summit between U.S. President Donald Trump and Russian President Vladimir Putin comes as Ukrainian President Volodymyr Zelenskyy alleges recent Russian advances are aimed at strengthening Moscow’s bargaining position.
Major tech-heavy indices edged lower from record highs by midday Friday in New York, as investors adopted a cautious stance ahead of the Trump-Putin meeting and after data showed a dip in consumer confidence alongside mounting inflation concerns.
Wall Street struggled to extend record highs on Thursday, as investors opted to lock in profits and adopt a more cautious stance after U.S. producer inflation posted its largest increase in three years.
Tech-heavy indices were little moved on Wednesday, while small caps and blue chips surged as investors rotated into lagging names, signaling a broadening market rally.
