Key facts
- Concerns about AI spending sustainability and rising oil prices stoked inflation fears.
- Meta Platforms slid 5.6% despite better-than-expected third-quarter revenue.
- Nvidia CEO Jensen Huang noted high demand for neoclouds but scarce capital.
- Brent crude oil was quoted at $111.18 a barrel at London's equity market close.
- Saudi Aramco told staff to evacuate its headquarters amid deepening disruption.
- The US 10-year Treasury yield was quoted at 5.02%.
Global equity markets retreated on Thursday, with the FTSE 100 closing down 0.3%. Investors were rattled by fears over the sustainability of AI spending and a renewed surge in oil prices, which stoked inflation concerns. Major US indices also fell, with the Nasdaq Composite down 2.0%. Meta Platforms slid 5.6% despite reporting better-than-expected revenue, as its chief financial officer highlighted significant investment needs for AI agents. Saudi Aramco instructed staff to evacuate its headquarters amid deepening disruption in Saudi Arabia following Houthi attacks.