Morning Report

Risk-off sentiment dominated markets as tech sector valuation concerns and AI-related business model fears led to a 1.0% decline in the S&P 500 and a rally in US Treasuries. Commodities like gold and copper also fell sharply despite the flight to safety.

Key Takeaways

• 1.Global markets shifted to a risk-off sentiment driven by tech valuation concerns and fears of AI's negative impact on existing business models.
• 2.US equities declined led by major tech firms, with the S&P 500 falling 1.0% and the tech sector dropping over 2%.
• 3.Safe-haven demand spurred a rally in US Treasuries, with the 10-year yield falling 7bp to 4.10%.

Table of Contents

• Key themes
• Data snapshot
• Today's key data and events
• Financial Markets
• International Data
• Corporate Directory

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