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US stocks fell after Meta's results revived concerns about AI spending, with the Nasdaq down 2.6% and a semiconductor index down 6.7%. Treasuries gained, while Brent crude rose 4% after Houthi attacks in Saudi Arabia.
Stock indexes fell on Thursday as Meta's earnings report reignited concerns about heavy capital spending on AI. Meta shares dropped 7% after the company reported third-quarter revenue above expectations and said it would issue non-voting stock. The Nasdaq fell 2.6%, its biggest daily percentage drop since early June, while a semiconductor index fell 6.7%.
US Treasuries rose as investors sought safety, sending the 10-year Treasury yield down 19.3 basis points to 4.953%, its largest daily drop since March 10, 2023. Brent crude rose 4% to settle at $113.17 a barrel after Houthi attacks in Saudi Arabia raised concerns about energy supply disruptions.
French markets were pressured by concerns over public finances and ongoing street protests. France's 10-year government bond yield reached 5.06%, surpassing the equivalent US Treasury yield for the first time since 2013, while the premium over German Bunds widened to its highest in 15 years.
