Global markets: stocks fall, bonds gain as Meta dents tech optimism
SPY•Global stocks fell, with the MSCI All-World index down 0.4% and the STOXX 600 down 1%, as concern over AI spending outweighed earnings optimism. Brent crude rose 3% to $112 a barrel, while the US 10-year Treasury yield fell 7 basis points to 5.075%.
1. Stocks retreat
Global stocks fell on Thursday as concern about the outlook for AI offset support from technology earnings. Meta’s third-quarter revenue beat expectations, but its plan to issue non-voting stock revived concern over its capital commitments; its shares fell around 0.8%. A judge in New Mexico also ordered Meta to pay the state a $25 billion penalty in a data privacy case.
2. Oil and bonds
Brent crude rose 3% to $112 a barrel after Houthi attacks in Saudi Arabia raised concern about wider conflict and supply disruptions. The US 10-year Treasury yield fell 7 basis points to 5.075%, trading below France’s yield for the first time in 13 years. US stock futures fell between 1% and 2%.
