Wall Street hit by AI slump as China’s Moonshot shakes markets
The Australian sharemarket saw a slight decline as tech stocks slumped and energy stocks rose due to Middle East tensions. Global concerns over AI-related tech valuations and rising oil prices are driving market volatility.
Why it matters
Market fluctuations impact global investment portfolios and reflect broader economic anxieties regarding inflation, interest rates, and geopolitical instability.
— 10:43am , first published July 20, 2026 — 5:22am
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Share A A A The Australian sharemarket trod water on Monday, with energy stocks following oil prices higher and tech firms losing more ground.
The S&P/ASX 200 edged slighter lower over the day to close down 5.4 points, just 0.06 per cent, to 8791.3. Five of 11 sectors stayed in positive territory as energy rallied 1.8 per cent and tech lost 1.55 per cent. The Australian dollar was steady at US69.86¢.
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