AI stock rout drags global markets lower; oil jumps on Iran war fears

A sharp selloff in AI-related equities, driven by datacenter and chip costs, pushed the S&P 500 down 1.2% and the Nasdaq down 2.6%, masking broad market strength. Oil prices hit their highest since May on concerns over the war with Iran. The divergence between AI weakness and broader market resilience suggests a sector-specific correction rather than systemic risk, though the oil spike adds inflationary pressure.

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