Your morning briefing. All the news you need to start your day
On today's podcast:
(1) Amazon shares dropped after the company announced plans to spend $200 billion this year on data centers, chips and other equipment, worrying investors that its colossal bet on artificial intelligence may not pay off in the long run
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(2) All across Wall Street, day by day, the headlong rush into the most popular trades, from tech stocks to gold to cryptocurrencies, has given way to a sudden retreat from risk.
(3) Bitcoin whipsawed in a volatile trading session in Asia after a selloff that briefly dragged the token to a more than 50% retreat from its October peak.
(4) Bank of England Governor Andrew Bailey appeared to endorse markets betting on a 50% chance of an interest-rate cut in March after a more dovish-than-expected decision to maintain the cost of borrowing this month.
(5) The euro zone will need time to see further productivity gains from an AI-related investment boom, European Central Bank President Christine Lagarde said.
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