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Stock markets closed another volatile week in the red, as investor sentiment soured on the very theme that has pushed markets to record highs: artificial intelligence (AI).
Attention shifted from earnings and revenue beats to the soaring cost of AI capital spending, casting doubts about future free cash flow—what analysts often call the “milk of Wall Street,” since it ultimately funds the dividends and buybacks that drive equity prices.
Higher oil prices and bond yields added pressure to the broader market.
For the week, the Dow Jones Industrial Average edged 0.38 percent lower, closing at 51,947. The S&P 500 dropped 0.61 percent to 7,411, near its weekly low touched on July 24. The Nasdaq Composite fared far worse, down 2.13 percent. The Russell 2000 fell 1 percent. The Chicago Board Options Exchange Volatility Index closed the week at 18.58, down 1 percent….
Attention shifted from earnings and revenue beats to the soaring cost of AI capital spending, casting doubts about future free cash flow—what analysts often call the “milk of Wall Street,” since it ultimately funds the dividends and buybacks that drive equity prices.
Higher oil prices and bond yields added pressure to the broader market.
For the week, the Dow Jones Industrial Average edged 0.38 percent lower, closing at 51,947. The S&P 500 dropped 0.61 percent to 7,411, near its weekly low touched on July 24. The Nasdaq Composite fared far worse, down 2.13 percent. The Russell 2000 fell 1 percent. The Chicago Board Options Exchange Volatility Index closed the week at 18.58, down 1 percent….
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