Interest Rate Cut
-
Traders Troubled by Murky Past, Uncertain Future
Wall Street saw its worst day since October 10th, with the Dow down 1.65%, S&P 500 down 1.66%, and Nasdaq plummeting 2.29%. Cooling AI enthusiasm, especially around Nvidia, Broadcom, and Oracle, contributed to the decline. Concerns about debt-funded AI development and uncertainty regarding a December Fed rate cut also weighed on the market. Conversely, DBS Bank projects significant revenue gains from its AI investments, expecting over $768 million USD in contributions this year.
