CoreWeave's slide raises warnings for the wider stock market

CoreWeave shares since Oct 6

-41 %

CoreWeave shares are down 41 per cent since Oct 6, after its bonds fell to distressed levels.

Other AI cloud providers have also fallen: Iren is down 40 per cent and Nebius 36 per cent. The Philadelphia semiconductor index has lost more than 13 per cent in October.

Strategists say the selloff may no longer be confined to tech: "It's now transitioning from being a micro event to a macro event."

— Brian Reynolds, market strategist