AI Stocks Decline Once More, Bitcoin Approaches $100,000: What’s Influencing Markets This Thursday?

Market Performance: Risk-off sentiment returned to Wall Street, leading to a selloff in major indices, with the S&P 500 down 1%, Nasdaq 100 down 1.8%, and Dow Jones down 0.9%. AI-linked stocks were particularly affected, with Robinhood and Palantir experiencing significant declines despite positive earnings reports.

Economic Concerns: Investors are facing mixed corporate earnings and rising concerns over the labor market, highlighted by a report showing increased layoffs. Federal Reserve officials expressed hesitance about further rate cuts, dampening investor optimism.

Crypto Market Trends: The cryptocurrency market also faced pressure, with Bitcoin falling 1.7% to around $101,000 and Ethereum dropping 4%. This decline resumed after a brief pause in their downward trend.

Earnings Reports: Several companies reported earnings, with notable movers including Robinhood down nearly 10%, Qualcomm down about 5%, and Duolingo plummeting 26.9%. The market is anticipating further earnings reports from various companies later in the day.