Business
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1h ago
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AI Fuels Market Selloff, Trump's Tourism Impact, Dog Love's Root

Global markets experienced a sharp downturn on Friday the 13th, with stocks and gold prices falling as investors expressed concerns about the impact of artificial intelligence. The S&P 500 fell 1.57% on Thursday, leading to a negative year-to-date performance, according to Fortune. Tech stocks, particularly those exposed to AI, led the decline, with the Nasdaq Composite dropping 2%.

The software sector of the S&P 500 has decreased by 27% since October, indicating investor worry that AI could replace software developers, according to the Financial Times. Gold, traditionally considered a safe haven, also dipped, suggesting a general desire among traders to withdraw from assets. The price of gold fell below $5,000 per troy ounce. Asian markets also faced difficulties, with Japan's Nikkei 225 down 1.21% and China's CSI 300 down 1.25% at the close of trading.

In other news, the U.S. tourism industry is expressing concern about a potential downturn. Despite a global increase in international arrivals in 2025, the U.S. saw a 5.4% decrease in foreign tourists, a sharper decline than the one experienced in 2017-18, according to Fortune. Policy stances, including immigration and tariffs, along with currency fluctuations and stricter border controls, have seemingly contributed to the industry's worries.

In a different development, the pet industry continues to thrive in the U.S. Nearly half of U.S. households own a dog, and most owners consider their pets as family members, according to Fortune. The industry is generating more jobs, from veterinarians to trainers. Mark Cushing, a lawyer and lobbyist for veterinary issues, calls this the "pet revolution," arguing that the internet has increased loneliness, leading people to focus more on their pets.

Meanwhile, at the U.S. Department of Energy's Thomas Jefferson National Accelerator Facility, AI is being used to optimize the performance of high-power particle accelerators. Advanced control systems are needed to keep these machines at peak performance, according to Phys.org.

AI-Assisted Journalism

This article was generated with AI assistance, synthesizing reporting from multiple credible news sources. Our editorial team reviews AI-generated content for accuracy.

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