DBI Today: 49.4 (−1.6)
Global tech stocks took another beating on Thursday, as a fresh wave of scepticism about how much longer the artificial intelligence spending boom can run knocked chip stocks lower for a second straight session, and the sell-off spread from Wall Street to Tokyo overnight. The Daily Business Index — our daily 0-to-100 readout of global business health, where 50 marks neutral — slipped to 49.4, dipping just below the neutral line. But this wasn't a one-note story: while investors were dumping semiconductor shares, American factories reported their strongest month of optimism in nearly five years, and fewer people than expected filed for unemployment benefits. The picture underneath the headline number is far more encouraging than the number alone suggests.
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