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Global Markets Fall Amid AI Fears and Oil Prices
Global markets fell on Thursday as tech stocks, particularly Nvidia, Alphabet, and AMD, dropped due to fears of an AI slowdown. The S&P 500 had its worst day since July, while the Nasdaq saw its biggest loss since June. Moderna's stock plummeted after leaked melanoma vaccine data, and TTM Technologies fell despite record results. Brent crude oil prices reached $115, the highest since May, due to fears of new U.S. and Israeli attacks on Iran. Asian markets were mixed, with the CSI 300 experiencing its 11th straight weekly loss. SpaceX's Q3 revenue rose 161% to $14.58 billion, with AI contributing $7.56 billion. The week could end with a sharp AI hardware pullback, falling Treasury yields, and higher oil prices, keeping markets cautious.