Datacenter and chip costs fueled sharp decrease in AI sector although non-AI stocks still had a strong showing

The latest shudder for stocks in the AI industry pulled markets lower worldwide on Thursday, while oil prices hit their highest levels since May on worries about the war with Iran.

The S&P 500 fell 1.2% for its worst day since July, while the Nasdaq composite tumbled 2.6%. The weakness for tech stocks was so overwhelming that it masked strength for the rest of the US market, in which the majority of stocks actually rose. The Dow Jones Industrial Average added 11 points, or less than 0.1%.

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© Photograph: Richard Drew/AP

© Photograph: Richard Drew/AP

© Photograph: Richard Drew/AP

PM pledges commitment to address climate crisis, saying in Guardian article that his ‘determination is unwavering’

• Andy Burnham: We will make the net-zero transition work for Britain

Andy Burnham has said he will not “abandon the responsibility” of fighting the climate crisis after the government approved the Jackdaw gasfield, pledging to block new North Sea licences and keep Britain on track for net zero by 2050.

The comments are the prime minister’s most forthright yet on net zero, after many MPs have privately cast doubt on the authenticity of his commitment to tackling the climate crisis.

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© Photograph: Vuk Valcic/ZUMA Press Wire/Shutterstock

© Photograph: Vuk Valcic/ZUMA Press Wire/Shutterstock

© Photograph: Vuk Valcic/ZUMA Press Wire/Shutterstock

Officials at Rosneft have privately voiced concerns that even a few more months of Ukraine's continued attacks could lead to lasting damage for the company.