It's been a rough day for Western stock markets, with the exception of London, which is still toasting the change of government (up 0,16%), and the Dow Jones, which is attempting to limit the damage by hovering at parity as European markets close. The Nikkei in Tokyo had already given the lead, with a 3,55% decline, and all the others followed suit. Milan -1,46% to 52.000 points and the Nasdaq -2% were the worst performers, followed by Paris -0,7%, Frankfurt -0,8%, Amsterdam -1,5%.The Nasdaq Composite Index is losing so much because of the collapse of artificial intelligence stocks, which are experiencing a turbulent period: Micron after yesterday's exploit following theagreement with Anthropic drops by 11% On the eve of tomorrow's earnings, Sandisk -12%, Nvidia -4%, Qualcomm -10%. Bucking the trend among the most followed stocks are only Amazon, Apple, Microsoft, and SpaceX, which is among the best at +3,2%.
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AI's red wave infects Piazza Affari: Stm -8,44%
The harmful effects of the sell-off in Artificial Intelligence are also perceptible in Europe: In Milan, the worst stock is Stm -8,44%Stellantis also fell -6,7%, and banks generally fell: the worst performer today was Intesa Sanpaolo -1,65%. A few scattered stocks bucked the trend: Amplifon was the best performer at -1,7%. The BTP Bund spread rises but not significantly, to 73 basis points, with the yield on the benchmark 10-year BTP falling to 3,65%. The euro continues to weaken against the US dollar: today, the exchange rate fell below 1,14, its lowest level since mid-March. Bitcoin's crash, which after the attempted comeback in the last few sessions returns to the starting square, around 62.000 dollars.
Commodities: Oil prices fall, silver hits lowest since mid-December
Peace in the Middle East is still giving oil and gas prices a boost: Today Brent falls below $77 a barrel, WTI Crude Oil below $73 a barrel, European natural gas just below 42 euros per megawatt hour. Gold is definitely out of fashion: today it is worth just over 4.100 dollars an ounce, while Silver even plummets to its lowest level since mid-December at $62 an ounce.
