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The Nexus
BUSINESSJul 23 · 22:26 UTCSEMAFORBrendan Ruberry

Oil spikes, stocks fall on Iran and AI fears

Oil prices surged to $100 a barrel, and Magnificent 7 stocks lost nearly $800 billion in value as concerns over AI spending and Iran tensions caused global market declines. Rising oil prices reignited inflation fears, and tech earnings failed to meet investor expectations focused on capital expenditures.

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