U.S. Stock Market indexes S&P 500, Nasdaq, and Dow Jones are heading for a volatile Monday as US-Iran war and Nvidia-AI worries will have big impact at the Wall Street on March 2. U.S. Stock futures were down in the pre-market on Sunday. S&P 500 futures were down by 0.43 per cent, Dow 30 futures fell by 1.05 per cent and Nasdaq futures were low at 0.92 per cent.
On Friday, S&P 500 fell 29.98 points to 6,878.88. The Dow Jones Industrial Average dropped 521.28 to 48,977.92, and the Nasdaq composite sank 210.17 to 22,668.21.
Nvidia Share Price
Nvidia stocks were down at $177.80 in the pre-market trading on Sunday. On Friday, Nvidia share price fell 4.2 per cent and was the heaviest weight on the U.S. stock market. On Thursday, Nvidia stocks dropped to its worst loss since last spring even though it reported a better profit than analysts expected and forecast more in revenue for the current quarter.
AI Worries
Wall Street has kept punishing companies that could become losers in the artificial-intelligence revolution. Fears about AI disruption have caused sudden and swift sell-offs for stocks seen as potentially under threat, and they’ve rolled through industries as different as trucking logistics and legal services.
Worries are hurting chip companies not only about whether their stock prices rose too high in recent years but also whether the huge spending driving their growth can continue. Can big spenders like Amazon and Alphabet make back all their billions of dollars in AI investments through higher productivity and profits in the future?
US-Iran War
US-Israel war against Iran has made an impact on oil prices. The price for a barrel of benchmark U.S. crude rose 2.8 per cent to settle at $67.02. Brent crude, the international standard, rose 2.4 per cent to $72.48 per barrel.
Analysts fear that a larger conflict in the Middle East could disrupt the global flow of oil and drive prices higher.
