Stocks Drop On AI, Rate Hike Worries As Lebanon Deal Hits Oil

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Stocks sank Thursday after a disappointing forecast by chip giant Broadcom stoked concerns about the AI trade, while stronger-than-expected US data compounded speculation that the Federal Reserve could hike interest rates.

Fresh Iranian attacks and a lack of progress in peace talks with the United States added to the downbeat mood, though oil prices dived on news of a ceasefire between…

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