Global stocks slide as US semiconductor index drops more than 6% and June payrolls rise 57,000
AI Market Summary
Global equities sold off as semiconductor shares led declines after Meta's plan to sell AI computing power raised fears of AI overcapacity and stretched capex cycles, pushing the U.S. semiconductor index down over 6%. Concurrently, sharply weaker U.S. payrolls and downward revisions signaled labor-market cooling, reinforcing Fed rate-cut expectations and pressuring the dollar (DXY -0.52%). Oil was steady; Europe outperformed on easier-rate expectations.
Impact level
● High
Affected assets
NCSKNVDA2USD/USDT-1.69%
AI Insight · NCSKNVDA2USD/USDTAI Insight
▼ Bearish
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Global equities fell on Thursday, led by a slide in semiconductor shares after Meta Platforms said it plans to sell computing power, stoking concerns about potential AI overcapacity. U.S. June nonfarm payrolls rose by 57,000, well below expectations of 110,000, and earlier months were revised down, pointing to a cooling labor market and reinforcing rate-cut expectations. The dollar index (DXY) fell 0.52% as emerging-market currencies strengthened, while oil prices were little changed and European stocks moved higher.
