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META
642.62
-0.96% (-6.23)
Market read
The bigger AI spending commitment renews concern that infrastructure costs are outpacing near-term revenue payoff, pressuring Meta and other tech shares. That selloff coincided with a Treasury rally that pulled the 10-year yield below 5%, consistent with investors rotating into bonds as growth stocks sold off.
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Meta shares fell 6% after the company raised its AI spending plans, dragging tech lower, while Treasurys rallied with the 10-year yield falling below 5%, gold, silver and Bitcoin declined, and oil climbed.
The bigger AI spending commitment renews concern that infrastructure costs are outpacing near-term revenue payoff, pressuring Meta and other tech shares. That selloff coincided with a Treasury rally that pulled the 10-year yield below 5%, consistent with investors rotating into bonds as growth stocks sold off.
FirstSquawk·10/22, 08:37 PM
FirstSquawk·10/22, 08:32 PM
FirstSquawk·10/22, 03:07 AM
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