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It’s time for Yahoo Finance’s Market Minute. Wall Street struggling to find its footing after AI disruption fears fuel a rush out of software stocks.
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Meanwhile, megacap megacaps taking a hit amid broader AI gloom as investors rotate from high-profile tech names into value stocks.
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Also weighing on the markets on Wednesday are weaker than expected jobs numbers from private payrolls data provider ADP.
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Bitcoin also under pressure here. That’s after remarks from Scott Beson, Treasury Secretary suggesting the US government would not bail out the cryptocurrency.
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Bitcoin sliding below 75,000, thus adding to its recent route.
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And lastly, oil continuing to climb. It’s amid geopolitical tensions. Axios reporting that prospects for upcoming nuclear talks between the US and Iran are disintegrating.
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The US telling Iran that it will not agree to demands to change the location and format of talks planned for Friday.
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And that’s your Yahoo Finance Market Minute.