The U.S. stock market is falling from its records and joining a worldwide drop for stocks, as higher oil prices send a shiver through the bond market. The S&P 500 fell 1.1% Friday from its all-time high. The Dow Jones Industrial Average dropped 518 points, and the Nasdaq composite sank 1.4% from its own record. Technology stocks led the market lower, particularly AI winners. They had shot so high that some critics said they had gone too far. Oil prices continued rising as the war with Iran drags on. Yields jumped in the bond market on worries about how much more it will worsen inflation.
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Pope Leo XIV has denounced investments in AI and high-tech weaponry, warning they lead to a “spiral of annihilation.” He called for peace in the Middle East and Ukraine during a visit to Rome’s La Sapienza University on Thursday. This marked the first papal visit to the campus since 2008. The pope was warmly welcomed, including by young Palestinians who arrived in Italy this week to study. Leo criticized increased military spending at the expense of education and healthcare. He emphasized the need for responsible AI development and highlighted the importance of valuing life and peace.
California Gov. Gavin Newsom has unveiled his final budget proposal. The plan presented Thursday includes no deficit for his last year of office and the next. It is a $350 billion spending plan that includes little new spending but also avoids major cuts. Newsom is eager to safeguard programs that have defined his tenure as the leader of the nation’s most populous state and one of the world’s largest economies. Revenues are $16.5 billion higher than projected, thanks to the booming stock market and artificial intelligence industry.
Lawyers for Elon Musk and OpenAI made their final arguments Thursday in the landmark trial whose outcome could shape the future of artificial intelligence. Musk, the world’s richest man, was a co-founder of OpenAI, the company that launched in 2015 and went on to create ChatGPT. After Musk invested $38 million in its first years, his lawsuit filed in 2024 accused OpenAI CEO Sam Altman and his top deputy of shifting into a moneymaking mode behind his back.
The U.S. stock market rose to more records after Cisco Systems joined the parade of companies reporting fatter profits for the start of 2026 than analysts expected. The S&P 500 climbed 0.8% Thursday to set an all-time high for a second straight day. The Dow Jones Industrial Average rose 0.7% and finished a day above the 50,000 level for the first time since the war with Iran began. The Nasdaq composite added 0.9% to its own record. Cisco led the way after talking up demand it's seeing from AI and other customers, while oil prices held relatively steady.
NEW YORK (AP) — Layoffs have been piling up recently, especially in the tech world. And the words “artificial intelligence” are accompanying m…
A rebound for technology stocks led Wall Street to records, even though the majority of U.S. stocks fell following another discouraging update on inflation. The S&P 500 rose 0.6% Wednesday and topped its prior all-time high set early this week. The Dow Jones Industrial Average dipped 0.1%, and the Nasdaq composite climbed 1.2% to its own record. Nvidia and other tech stocks led the way, a day after stumbling in an industrywide swoon. Most other stocks weakened after a report showed inflation at the U.S. wholesale level was significantly worse last month than economists expected.
HONG KONG (AP) — China’s Alibaba said that growth accelerated for both its artificial intelligence and cloud businesses in the latest quarter,…
LONDON (AP) — Meta Platforms said Wednesday it's rolling out an “incognito” mode for WhatsApp users to have private conversations with its AI …
Prominent U.S. executives from Big Tech and Wall Street to agriculture and aerospace are joining President Donald Trump on his trip to China t…