Almost half a trillion dollars has been wiped off cryptocurrencies in less than a week as a selloff led by Bitcoin accelerated. The declines follow a volatile week across global markets that also saw sharp swings in gold and silver. Bloomberg’s Ven Ram reports.
Almost half a trillion dollars has been wiped off cryptocurrencies in less than a week as a selloff led by Bitcoin accelerated. The declines follow a volatile week across global markets that also saw sharp swings in gold and silver. Bloomberg’s Ven Ram reports.
A new AI automation tool from Anthropic PBC sparked a $285 billion rout in stocks across the software, financial services and asset management sectors on Tuesday. The selloff started before the US market opened on Tuesday as traders pointed to a release on the Anthropic website as the reason behind steep declines in the shares of credit and marketing services company Experian Plc, business and leg...
A new AI automation tool from Anthropic PBC sparked a $285 billion rout in stocks across the software, financial services and asset management sectors on Tuesday. The selloff started before the US market opened on Tuesday as traders pointed to a release on the Anthropic website as the reason behind steep declines in the shares of credit and marketing services company Experian Plc, business and legal software maker RELX PLC and the London Stock Exchange Group Plc. Bloomberg Intelligence’s Matthew
The FTSE 100 ultimately fell about 0.3% yesterday, because a rally in mining stocks strengthened and offset a large portion of the declines suffered in the data and software industry. The UKâs benchmark is short on tech, for sure, but what it does have is a group of software, data and analytics companies that have been caught up in a wave of worry about being losers from the AI boom. Anthropic, ...
The FTSE 100 ultimately fell about 0.3% yesterday, because a rally in mining stocks strengthened and offset a large portion of the declines suffered in the data and software industry. The UKâs benchmark is short on tech, for sure, but what it does have is a group of software, data and analytics companies that have been caught up in a wave of worry about being losers from the AI boom. Anthropic, the AI company, launched a new automation tool for the legal industry which set off jitters about the competition that companies in the sector will face. That caused shares in the likes of RELX and London Stock Exchange Group to fall, and those declines accelerated as the day progressed. The selling then spread into US software companies and dragged the Nasdaq 100 to a 1.6% loss for the day, and have also hit the same sectors in Asian trading. And unwelcome message for the FTSE 100 then that not only does it lack stocks that have the kind of direct benefit from the AI boom that the US market is rich in, but the tech-adjacent companies it does have are classed a possible losers from the disruption too.