Wall Street closes worst week since June on artificial intelligence stocks

Wall Street closed lower, weighed down by further selling in technology stocks linked to artificial intelligence. The weekly result is the worst since June for two of the main US indices.

Index	Change
S&P 500	-1.1%
Nasdaq Composite	-2.1%
Dow Jones Industrial Average	-0.3%

The S&P 500 index lost 1.1% over the week, while the Nasdaq Composite fell 2.1%: for both, this is the worst week since June. The Dow Jones, on the other hand, recorded a more contained decline of 0.3%, indicating that the selling was concentrated mainly on stocks with greater technology exposure rather than across the board. The gap between the three indices confirms that the downward pressure did not affect the entire US stock market, but was concentrated around stocks most linked to the race for investment in artificial intelligence, while sectors with lower exposure held up better.

European stock markets, meanwhile, remain mixed, with no clear common direction compared to the American movement.

On the Italian bond front, the spread is slightly lower, with the ten-year yield at 4.46%. In Milan, among the stocks leading the gains are Campari and Cucinelli, signalling a distinct resilience in the consumer and luxury sectors compared to the negative trend of technology stocks overseas.

The picture emerging at the end of the week is one of a US market that remains in negative territory in the sectors most exposed to artificial intelligence, with the Nasdaq particularly hard hit, while the Dow Jones and some European consumer and luxury stocks show relative resistance. The divergence among the US indices, together with the stability of the Italian spread, makes up the markets’ weekly balance.