What’s News in Markets: AI Reality Check, Oil’s Tipping Point, Crypto Winter

Speaker 10:00

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Imani Moise· Host0:29

Hey, listeners, your Money Briefing is still on a break, but we'll be back with more personal finance information for you in the future. Until then, here's the news moving the markets this week. [upbeat music] Hey, listeners, it's Saturday, June sixth. I'm Imani Moise for the Wall Street Journal, and this is What's News in Markets, our look at the biggest stock moves of the week and the news that drove them. Let's dive in. Markets hit the brakes this week, with major indexes falling after setting record highs just last week. A strong jobs report and rising tensions in the Middle East stoked fears about inflation. A conservative revenue outlook from one of the world's biggest chip makers caused investors to question whether AI growth expectations were beginning to lose touch with reality. And a sale by one of Bitcoin's biggest bulls triggered a crypto sell-off. The tech-heavy NASDAQ tumbled four point seven percent, and the S&P snapped a nine-week winning streak, ending two point six percent lower. Those were the