Wall Street had its worst week since June as concerns grew that higher borrowing costs could slow AI infrastructure investment. On Friday, the Nasdaq Composite fell 4.5% and the S&P 500 fell 1.1%, with CoreWeave down 12% on the day and 25% for the week, and Dell down 22% for the week, its worst on record. The 10-year US Treasury yield fell 0.146 percentage points to 5.097%, its biggest weekly decline since mid-February. About 45 S&P 500 companies have significant AI exposure and accounted for roughly 39% of the index's 14.1% return through 11 October. Fed Chair Kevin Warsh gave no clear signal, but futures markets put the chance of a rate rise by year-end at about 85%.
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