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US stocks recovered on Thursday as Treasury yields tumbled and chip stocks pared losses following an AI-driven sell-off fueled by debt-financing concerns.

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The S&P 500has gained nearly 14.1% so far this year (as of Oct. 9). But much of the market’s earnings growth remains concentrated in major technology companies.

Ray Dalio is worried about the explosion of debt issued by countries and companies.

Taiwan Semiconductor Manufacturing Company’s (TSM) shares fell 4% as strong quarterly results from the contract chipmaker did little to lift sentiment around the AI trade amid a deepening sector-wide sell-off.

Good morning. Stocks were mixed on Thursday, and tech stocks declined over worries of AI financing in the face of higher borrowing costs.

The sell-off in chip stocks deepened Thursday as hot inflation data collided with growing worries over debt-heavy balance sheets amid an AI infrastructure buildout.

Canadian-based Pineapple Financial Inc.announced that it has rebranded as Pentiv and has launched an intelligence platform aimed at U.S. mortgage brokerages, part of its shift to an asset-light, platform-driven operating model focused on commercializing its technology beyond its existing brokerage network.

Bank of America has been fined $1.2bn (£910m) for failing to detect potential money laundering and other illegal activity, the US Treasury Department said on Tuesday.