GoKawiil
Tech News
Expectations for a strong autumn IPO season are weakening, according to reports of market conditions. Stock market volatility combined with growing investor anxiety over AI safety issues has disrupted plans for what had been anticipated as a wave of high-profile public offerings.
Wall Street saw another volatile week as the Federal Reserve raised interest rates a quarter point to a range of 3.75%-4%, its first hike in three years, while renewed concerns about AI safety rattled tech stocks. The Dow fell 1.7% for its third consecutive losing week, led by steep declines in bank stocks including Goldman Sachs, which dropped nearly 8.5%. The S&P 500 and Nasdaq held up better, with the Nasdaq even gaining slightly as investors bought back into AI names after an early sell-off, while oil price swings tied to Mideast tensions added further pressure on companies like Boeing and FedEx.