A global stock rebound reversed as US technology shares fell, led by Oracle’s 8.6% decline and Marvell Technology’s 13% drop. Brent crude fell 7% to about $105 on hopes for a peace deal involving Iran.
US stock indexes rose 1% or more early Monday before turning lower in the afternoon as technology selling picked up. Oracle fell 8.6% after setting plans to raise $20 billion through share and bond sales. Marvell Technology dropped 13% after announcing a $115 billion agreement to buy Lumentum, whose shares fell 18%; Intel declined 8%, extending its 29% fall on Friday.
The pullback added to investor anxiety about the AI boom, after the Nasdaq recorded its largest retreat in four months on Friday. Goldman Sachs analysts expect hyperscaler capital spending to nearly double to $800 billion this year and rise to $1.2 trillion in 2027, while forecasting S&P 500 earnings-per-share growth to slow to 18% next year from nearly 30% in 2026.
Brent crude fell 7% to about $105 as Iranian negotiators left talks with Qatari mediators and a draft proposal circulated. In Europe, the STOXX 600 ended up 0.4%, while the MSCI world stocks index was fractionally lower. Investors also faced the US midterm elections, central-bank decisions and earnings reports, including Apple’s due after the close.
