TechFlow reports, July 17, as concerns intensified over potentially excessive valuations of artificial intelligence companies, investor risk appetite declined, and the cost of euro-denominated credit default protection rose.
Investors questioned how long the rally in the artificial intelligence sector could last, thus selling off tech stocks and reducing preference for risk assets. S&P Global Market Intelligence data shows that the iTraxx Europe Crossover credit default swap (CDS) index, measuring eurozone high-yield credit risk, rose 2 basis points to 253 basis points. (Jin10)
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