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Oil Prices Surge as AI Stocks Decline
Brent crude oil prices reached a five-month high of $111.66 per barrel on Thursday, driven by a 2.6% increase. Simultaneously, AI-related stocks such as Nvidia and Meta declined, leading to a downturn in global markets. The S&P 500 and Nasdaq indices experienced significant losses, with the Nasdaq falling 1.5% and the S&P 500 losing 0.8%. Asian markets, including the Kospi, also saw substantial declines, with the Kospi dropping 3.52% to 5,533.77. The selloff in AI stocks, particularly Nvidia, affected retirement accounts and contributed to the broader market downturn.