Stocks Slip on AI Worries and Apple's Forecast as Investors Await Election Results
S&P 500 futures edged lower after three straight losing sessions. Brent crude rose 1.6% to $106.44.
By Watchman Report staff ·
A fresh bout of anxiety over artificial intelligence pressured global stocks on Tuesday as voting began in the U.S. midterm elections, Reuters reported. S&P 500 futures fell 0.14% after the index's third straight losing session on Monday. South Korea's KOSPI and Taiwan's main index each fell 3.6%.
Apple on Monday forecast lower gross margins for the holiday quarter, citing rising memory-chip costs, and projected services revenue growth well short of Wall Street expectations, deepening the gloom after lukewarm results from other tech giants, Reuters said.
Brent crude rose 1.6% to $106.44 a barrel; Reuters said oil has whipsawed on conflicting U.S. and Iranian signals about ending the war. The 10-year Treasury yield rose to 4.9064%. Traders on Polymarket see about a 77% chance of Democrats winning both chambers of Congress, according to Reuters.
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