{
  "id": 16198744,
  "title": "AI concerns continue to hit Big Tech stocks Friday as oil prices rise again",
  "url": "https://urgent.news/2026/10/23/ai-concerns-continue-to-hit-big-tech-stocks-friday-as-oil-prices-rise-16198744",
  "topic": "ai",
  "section": "AI",
  "published": "2026-10-23T14:39:13.000Z",
  "source": {
    "name": "Global News",
    "slug": "global-news-globalnews",
    "url": "https://globalnews.ca/news/12118396/stock-markets-ai-tech-oil/"
  },
  "original_language": "en",
  "account": "Big Tech stocks continued to experience concerns on Friday, as oil prices rose once more, causing Wall Street to open lower. The S&P 500 fell 0.5%, Dow Jones Industrial Average dropped 547 points (1%), and Nasdaq composite declined 0.4%. The weight of worries about the cost of developing artificial intelligence (AI) technology had previously impacted stocks throughout the week. Meta Platforms, which operates Facebook and Instagram, experienced a slight decline in early trading after reporting stronger-than-expected revenue for the latest quarter but lower than anticipated profits. The company also announced plans to create a new class of stock to raise money for AI investments and other expenses.\n\nMeanwhile, Tesla showed a slight improvement in premarket trading after reporting a stronger profit for the summer than analysts expected, despite weaker-than-forecast revenue. Nvidia, the largest company on Wall Street by total value, saw a small gain before the market opened but had dropped 4.4% at Thursday's close amid the global tide against AI stocks. The chip giant carries significant weight on the S&P 500 due to its movements affecting the index more than any other.\n\nIn Europe, the Toronto Stock Exchange and European markets experienced declines, with France's main index falling 1% and Germany's DAX and CAC 40 dropping 0.8% and 0.7%, respectively. The yield on the 10-year Treasury increased to 4.97%, while oil prices reached levels not seen since May. Brent crude oil prices rose 1.8% to just above $115 a barrel, and U.S. benchmark crude oil jumped 1.8% to $101.22 per barrel. Gasoline prices in the U.S. also rose again, with the national average for a gallon of regular gas increasing to $4.29, according to AAA.",
  "summary": "Stocks are opening lower Friday on Wall Street as Big Tech companies tied to artificial intelligence swing lower again and oil prices rise.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}