AI Stock Declines Temper Wall Street Gains

U.S. stocks ended mixed as declines in AI and technology shares offset gains across much of Wall Street, while oil prices fell on hopes for more talks with Iran. Stock futures were mixed and Treasury yields edged up as Election Day arrived. Polls favored Democrats to win the House, while control of the Senate remained uncertain; analysts saw different possible effects on government spending and markets.

The Nasdaq-100 entered its third correction of the year as investors questioned when Big Tech’s hundreds of billions of dollars in AI spending would pay off. Weak results from Alphabet and disappointing forecasts from Intel and ServiceNow added to those doubts.

Brookfield plans an AI data center at the Drax power station in North Yorkshire, United Kingdom, with potential investment exceeding £20 billion. Drax would host the project with Brookfield and its Radiant platform, but approvals, a tenant and final investment decisions are still pending. Oil prices recorded their biggest drop since July amid hopes for more Iran talks.

U.S. stocks ended mixed as declines in AI and technology shares offset gains across much of Wall Street, while oil prices fell on hopes for more talks with Iran. Stock futures were mixed and Treasury yields edged up as Election Day arrived. Polls favored Democrats to win the House, while control of the Senate remained uncertain; analysts saw different possible effects on government spending and markets.

The Nasdaq-100 entered its third correction of the year as investors questioned when Big Tech’s hundreds of billions of dollars in AI spending would pay off. Weak results from Alphabet and disappointing forecasts from Intel and ServiceNow added to those doubts.

Brookfield plans an AI data center at the Drax power station in North Yorkshire, United Kingdom, with potential investment exceeding £20 billion. Drax would host the project with Brookfield and its Radiant platform, but approvals, a tenant and final investment decisions are still pending. Oil prices recorded their biggest drop since July amid hopes for more Iran talks.