Rolling coverage of the latest economic and financial news
Richard Hunter, of the broker Interactive Investor, thinks there could be a gloomy mood over markets this Halloween. He said:
In the tech space, Meta Platforms dropped by more than 11% in response to increasing concerns over the level of AI spending, where the company revealed that it was looking to raise $25 billion for the purpose. Microsoft shares dropped by 3% on similar concerns, despite an otherwise highly positive earnings report.
…The mood was also sombre as investors digested the previous comments from Fed Chair Powell, who poured cold water over the probability of a further rate cut in December which markets had priced in.
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