US election, tech jitters rattle world stocks
Global stocks slid Thursday as investors fretted over results from tech giants and remained risk-averse ahead of a coin-toss US election.
Data showing the US Federal Reserve's preferred inflation measure cooled further last month — and now sits just above its long-term target — failed to boost sentiment, despite being a positive sign for future interest-rate cuts.
All three major US indices fell, with the tech-rich Nasdaq Composite Index falling nearly 3percent.
Both Microsoft and Meta topped earnings estimates, but saw their share prices tumble after signalling plans to ratchet up AI investments. Microsoft ended down 6.1 percent while Meta lost 4.1 percent.
«Earnings expectations have been high and they're meeting, but they're not meeting to the same degree they were,» said Jack Ablin, chief investment officer at Cresset Capital Management.
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