Timelines
How the main stories unfold, day after day: each timeline gathers the articles about one event, with a summary.
- Rising oil prices, falling technology stocks and reversing bond yields keep Wall Street unsettled
Rising oil prices, falling technology stocks and reversing bond yields kept Wall Street unsettled on Thursday 8 October. Oil prices jumped sharply as President Donald Trump weighed whether to resume large-scale U.S. military operations in Iran, with a barrel of Brent climbing back toward $105, and another surge in bond yields, to 24-year highs according to Business Insider, rattled stocks earlier in the day. The S&P 500 fell 0.5% for a second straight loss after setting its all-time high, the Dow Jones Industrial Average added 51 points, or 0.1%, and the Nasdaq composite fell 1.3%.
- NFL urges the Supreme Court to rule on prediction markets, backing state oversight against Kalshi
The NFL urged the U.S. Supreme Court on Thursday to take up the legal battle over the regulation of prediction markets, arguing in an amicus brief that states are better positioned to oversee sports-related contracts 'given the current landscape'. The brief supports New Jersey regulators in their battle against Kalshi and argues that sports prediction contracts are effectively gambling, CNBC reported. Fortune said the league, which wants clarity 'before another NFL season goes by' to preserve game integrity, is breaking with other leagues on prediction markets.
- Ray Dalio warns the AI bubble is nearing its bursting point
Billionaire Ray Dalio warned that artificial intelligence is a 'classic bubble' that is nearing a bursting point because of rising interest rates and the need to turn wealth into cash. Speaking at the Forbes Global CEO Conference in Singapore on Wednesday, he said the AI bubble is reaching the point where it could burst. Bloomberg reported the warning as a rally in stocks came to a halt and global bonds fell, with mounting attacks on tankers in the Middle East pushing oil prices higher.
- Backlash against AI data centers spreads, and Wall Street grows skeptical of the boom
A backlash against AI data center construction has spread across the United States, from fights over permits and pollution around SpaceXAI's Colossus data center to debates in Philadelphia and Pennsylvania. In July, New York Gov. Kathy Hochul signed the nation's first statewide moratorium on large-scale data centers, and a NPR/PBS News/Marist poll found 65% of registered voters opposed the construction of a data center in their community, Business Insider reported; CoreWeave CEO Michael Intrator said the moratoriums would only relocate the infrastructure, not reduce demand. Amazon's $1 billion plan to combat the backlash drew more backlash, according to Ars Technica, and on 4 October The Philadelphia Inquirer reported that the backlash and paused IPOs have some investors voicing concerns about data centers' growth expectations and risks.
- Bond yield swings rattle markets worldwide as AI optimism boosts Wall Street
More swings in the bond market rattled stock markets around the world on 1 October, while AI optimism boosted Wall Street. High yields slow the economy by making it more expensive for everyone to borrow money, while undercutting prices for stocks and other investments, PBS NewsHour noted. On 2 October, Business Insider reported ING's view that the AI boom is pushing bond yields higher in ways that go beyond corporate borrowing, noting that the 10-year Treasury had hit its highest level since 2002 and the 30-year yield a 24-year high.