Wall Street closed lower on Friday, with the Dow Jones falling 1.23 percent to 52,215.16 points. The S&P 500 slipped 0.52 percent to 7,623.68 and the Nasdaq eased 0.21 percent to 25,955.34, as investors weighed doubts over AI spending against inflation pressures linked to threats to energy supply.
AI spending draws scrutiny
Enrique Covarrubias, chief economist and director of analysis at Actinver, said the market was testing whether investments in artificial intelligence would pay off. He said the rise in oil prices added pressure to the economic outlook.
In Mexico, manufacturing and technology exports supported activity in August, Covarrubias said.
European indices split
European markets were mixed. Germany’s DAX fell 0.75 percent to 25,181.65 points, and France’s CAC 40 dropped 0.36 percent to 7,782.82. London’s FTSE 100 slipped 0.32 percent to 10,690.36.
Spain’s IBEX 35 rose 0.40 percent to 18,989.80, while Italy’s FTSE MIB gained 0.36 percent to 48,558.86.
By our market data, as of 15:53 GMT on 24 October, the S&P 500 stood at 7,623.68 points at the 23 October close, its lowest in 31 days. US annual inflation was 3.7 percent in September, near its 31-day high.
Related: Wall Street and Europe open lower on Middle East and AI worries · Wall Street rises as tech shares recover from sell-off
Data: S&P Dow Jones Indices · Nasdaq · Deutsche Börse · FRED — St. Louis Fed
