NEW YORK (dpa-AFX) – The US stock markets curbed their previously significant losses in late trading on Friday and closed little changed. Previously, increasing fears about the topic of artificial intelligence (AI) had weighed on the stock markets. Fresh US economic data had little impact on prices. The mood of US consumers deteriorated significantly more than expected in November – as measured by the University of Michigan Index.
The Dow Jones Industrial closed with a gain of 0.16 percent at 46,987.10 points. This resulted in a weekly loss of more than one percent for the US leading index. The S&P 500 rose 0.13 percent to 6,728.80 points on Friday. The NASDAQ 100, however, fell by 0.28 percent to 25,059.81 points. This means that the technology-heavy index recorded a weekly loss of a good three percent.
Highly nervous investors around the world continued to discuss the question of whether the AI hype has led to a bubble that could burst soon, noted capital market strategist Jürgen Molnar from broker RoboMarkets. Investors are increasingly questioning whether the huge investments made by many companies in AI are proving to be so profitable that they justify the current price levels, explained analyst André Sadowsky from Commerzbank./edh/stw