Global stocks struggle but tech shares lifted by AI

 

 

NEW YORK – Global stock markets wobbled Thursday as the US debt standoff dragged on and Germany entered recession, but tech shares surged after US chip firm Nvidia reported bumper earnings thanks to the AI boom.

Analysts cited heightened worries about a possible US debt default after ratings agency Fitch placed the country’s AAA-ranked credit on “rating watch negative” amid the stalled talks on raising the US debt ceiling.

The announcement raises the possibility of a first ratings downgrade since another ratings agency, S&P Global, did so during a similar standoff in 2011.

Analysts said that while there is still a broad expectation an agreement will u…

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