New York, Feb 27, 2026 (AFP)
Wall Street stocks fell early Friday on worries over AI and the latest US inflation report, while Netflix shares surged after it ended its takeover battle for Warner Bros. Discovery.
US producer prices rose 0.5 percent in January on a month-on-month basis, which was enough above estimates to spur worries that it will dissuade the Federal Reserve from cutting interest rates.
Meanwhile, both Nvidia and Amazon fell after OpenAI announced a $110 billion funding round that includes both companies, as well as SoftBank.
About 25 minutes into trading, the Dow Jones Industrial Average was down 1.6 percent at 48,700.15.
The broad-based S&P 500 dropped 1.0 percent to 6,842.55, while the tech-rich Nasdaq Composite Index shed 1.1 percent to 22,624.67.
US stocks have seen periodic bouts of selling in recent weeks as investors focus on the downside of AI investment, including negative impacts on software companies and job loss.
On Thursday, tech company Block announced it is cutting 40 percent of its workforce due to AI advances. Shares of the company jumped more than 15 percent.
Netflix was another big winner Friday, piling on more than nine percent after announcing its withdrawal from the bidding war for Warner Bros. after Paramount Skydance raised its bid. Saying it didn't want to overpay, Netflix is poised for a $2.8 billion deal breakup fee.
Sumber : AFP
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