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Tech Stocks Crumble Amid Cost Pressures
Tech stocks crashed Friday as Apple’s chip cost woes sent shares down 6%, while whispers of OpenAI delaying its IPO sent shivers through markets. Oil prices also tumbled toward a four-month low, despite lingering Middle East tensions, as Saudi Aramco’s terminal restart added to supply pressure. Investors braced for inflation fears as big tech passes on costs after a strong run, dragging Nasdaq and S&P futures lower — with the Dow expected to dip too. Meanwhile, the yen hit a 40-year low against the dollar, despite solid U.S. data hinting at a possible Fed pause in September. Markets are…
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