AI-related stocks face selling pressure amid inflation shock, CoreWeave and Oracle shares fall
CRWV CoreWeave Inc
$65.78 -15.46%
View chart & analysis → - 1AI-related stocks faced selling pressure following inflation data releases, causing CoreWeave and Oracle shares to drop 15% and 10% on Wednesday, respectively.
- 2CoreWeave's credit default swap (CDS) spread exceeded 600bp on Wednesday and surged above 1,000bp earlier today.
- 3Projections have emerged that the Fed may implement a potential 50bp interest rate hike in December.
So what's the key point?
CoreWeave and Oracle shares fell sharply as investors sold off AI-related stocks following news of rising inflation. CoreWeave's risk of default surged past 1,000bp, causing concern among investors.
Source Reuters · View original ↗
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