Oil hits a five-month high on Iran war fears as Asian shares slip after Thursday's brutal AI stock rout

Hedge funds are nursing worsening returns as the tech sell-off deepens, with surging crude now eroding IT gains on Indian shares. The Nasdaq dropped 2.6% on Thursday, while the S&P 500 slid 1.2% — its worst session since July. Meta tumbled 7% after announcing a new share class designed to fund its AI ambitions. London's FTSE 100 eased 0.3%, finishing at 10,725.03.

Meta's credit risk indicator reached a record high amid mounting concern over its AI expenditure plans.

Lam Research sank 11.8% even after reporting profit figures that topped analyst expectations.

AJ Bell's Russ Mould: rising oil 'stoked concerns about the threat posed by inflation'.

The GuardianSharp drops for AI stocks overwhelm markets worldwide as oil prices jump ReutersHedge fund returns worsen this week as tech selloff deepens APAsian shares slip as sharp drops for AI stocks overwhelm markets worldwide and oil prices jump ReutersIndian shares subdued as rising crude prices eclipse IT gains ReutersTech selloff relents, oil at five-month high ReutersWall Street sinks as Nasdaq falls over 2% on AI cost worries NYTStocks See Steepest Decline in Months Amid A.I. Worries ReutersMeta shares slide, default insurance hits record as AI spending alarms investors CBS NewsNasdaq dives more than 750 points as investors worry massive AI spending won't pay off

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