BUSINESSQUARTZ
The AI trade split Big Tech in half as Microsoft jumped 9% and Meta fell 9%
Big Tech is divided over the AI trade, with Microsoft's stock rising 9% and Meta's falling 9%. Market futures are higher as investors react to the Fed's decision to maintain interest rates and increasing Treasury yields.
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Adjacent reporting
- Meta tanks nearly 9%, Microsoft jumps 8% as the AI trade splits Big Tech
- Wall Street's flip from AI stocks to elsewhere accelerates, while oil prices keep easing
- Rebounds for AI stocks help support Wall Street and keep the market mixed
- Wall Street mixed in premarket trading as AI stocks give back a chunk of Monday's gains
- Rebounding AI stocks pull Wall Street higher
- More than two-thirds of tech stocks are at least 20% off recent highs. What’s happening to the AI trade?