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Global markets turn risk-off as AI optimism fades
Description
Global equity markets take a sharp risk-off turn as investors continue to question AI spending and higher yields. Overnight, Meta's third-quarter revenue beats expectations with annual capex set to top at $145 billion, but Tesla shares are lower after hours despite higher gross margins as the company plans to scale back its own capital spending plans. In Europe, Nestlé beats expectations for third-quarter organic sales, we'll speak exclusively to CEO Philipp Navratil as a part of our Super Thursday of earnings, including the CEO of Barclays. And, Nvidia CEO Jensen Huang takes the stage in Berlin, urging Europe to produce AI, not just consume it - as he wraps up his tour with a flurry of new deals and investment pledges.
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