The Nasdaq fell 5.5% in a single week, and Brent crude oil approached 110 US dollars

The financing risks of AI infrastructure and the impact of rising oil prices are hitting Wall Street. The Nasdaq 100 index fell 5.5% over the week, marking the largest weekly decline since the tariff turmoil in April 2025. The Philadelphia Semiconductor Index has fallen for eight consecutive trading days, the longest losing streak since 2008, with a decline of about 16% during this period.

Some bond yields of CoreWeave briefly surpassed 15%, raising concerns in the market about its AI infrastructure financing costs, capital expenditure returns, and debt repayment ability. The company's stock price fell 12% on Friday, down more than 50% from its high earlier this year. Cathie Wood's ARK Investment Management increased its holdings in CoreWeave and Cerebras Systems.

Brent crude oil rose to about $110 per barrel, while WTI crude oil increased by 3.8% on Friday, closing at $101.71. Rising oil prices are pushing up inflation expectations, with the yield on 10-year U.S. Treasury bonds rising to 5.097%, diminishing the appeal of government bonds as a safe haven during stock market declines. Market attention on AI trading has shifted from computing power demand to financing costs and profit returns, and the earnings reports of tech giants will test whether AI revenues can support sustained high capital expenditures.