ASX down as oil surges to $US100, Musk’s wealth falls on tech sell-off | Finance Report | ABC NEWS
A flare-up in Middle East hostilities caused the oil price to surge above $US100 per barrel. The prospect of higher inflation and interest rate hikes from the price spike caused significant losses for the ASX 200 and global markets.
Concerns about tech companies overspending on AI led to steep falls in Google and Tesla share prices. Meanwhile, Elon Musk is no longer a trillionaire after recent sell-offs of Tesla and SpaceX shares. Presented by David Chau.
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