Chai! Na wah oh! Stock market don dey waka fall like say dem no get sense again.
This Thursday, market wey we sabi no get joy as many stocks don dey drop again, just like the way wey Wall Street dey suffer from tech wahala. Tech companies dey feel the heat as investors dey panic over wetin AI go do for dem money and valuation don dey stretch like rubber band.
Since wey this week begin, things don calm small, but traders don still dey shake for their seat as dem dey think about how AI go take change the game for different companies. Precious metals like gold and silver dey also collect kasala no be small, as dem dey drag their value down like say dem dey run for competition.
Then news come drop say Anthropic, wey be AI startup wey create the Claude chatbot, don showcase new tool wey go allow firms to handle legal work. E follow wahala come for software and finance industry, and analysts don talk say investors don dey shift focus from tech to other sectors wey go make more sense now.
A no be just talk; the titans like Alphabet, ARM, and Microsoft wey everybody dey expect to shine don also run fall back with their earnings report. E no balance!
Chris Beauchamp wey be market analyst talk say dis na large concern wey dey show how quickly AI fit disturb the way business dey operate. If new AI companies dey come, dem fit spoil market for old ones, and that one fit make old dogs lose their bite.
Fiona Cincotta wey dey work for City Index also talk say investors dey switch to other companies wey go follow traditional cycles as dem dey fear the tech disruption. She warn say as losses dey continue for tech side, market mood still dey fragile like egg.
The story don reach Asia, where Seoul wey originally dey shine don drop 3.9 percent. Other cities like Tokyo, Shanghai, Sydney, and more also dey notice downward trend. But Hong Kong try manage am small and recover from steep losses.
Talk about precious metals, silver don drop over 18 percent like say na trekking race after dollar price rise raise the price for dollar-priced assets, and gold no dey smile too as e don shed more than five percent.
Oil price don follow join the trend to dey fall due to Iran and US nuclear talks wey be good news for investors, comparability to earlier fears. Bitcoin also no dey hear word, as e just fall to $70,010 wey be lowest since last year -40 percent down from record high.
Despite all these fire, some companies dey manage shine through, like Panasonic wey announce say e don chop small profit dis quarter and dey plan cut about 12,000 jobs. E wey jump up 15 percent for the stock market before e cool down to 8.4 percent.
Finally, e no be all doom and gloom as Sony self don release some better forecast wey show say dem fit up sales and profits thanks to weaker yen. And sa na dem dey fight against the general market breakdown.
As we dey observe all these things, one thing wey clear be say market still dey shaky, and any small news fit shake everybody’s market position. Make we dey watch am well well as e dey unfold.
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