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Stock Market Stumbles on Jobs Data as Dalio Warns of AI Bubble
Stock Market Stumbles on Jobs Data as Dalio Warns of AI Bubble
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BTCCSquare news:
Major equity ETFs retreated Thursday after disappointing labor market data. The SPDR S&P 500 ETF (SPY) and Invesco QQQ Trust (QQQ) both closed lower as private payrolls grew just 17,000 versus 50,000 expected. "The employment numbers suggest an economy nearing recession," said Carlyle's Jason Thomas, contrasting with other economic indicators.
Ray Dalio's AI bubble warning added to market unease. The Bridgewater founder cautioned that excessive speculation in artificial intelligence stocks mirrors previous technology manias. Meanwhile, the WTO upgraded its 2025 global trade forecast to 2.4% growth while cutting 2026 projections.
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