Oil Spike and AI Stock Chill | Miami News

Oil prices surge five percent to nearly $80 a barrel amid Middle East tensions over the Strait of Hormuz, tightening supply and hiking gas costs. Wall Street reacts with broad losses as tech stocks, especially AI-driven chipmakers like Micron and SK Hynix, tumble amid growing doubts about the sustainability of the AI boom. Despite strong revenue growth from some players like TSM, investor caution is mounting. This week’s earnings reports from giants like Bank of America and JPMorgan will be closely watched to see if profits can match soaring valuations—or if a broader market correction is looming. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/d0506b8c43d5cee4