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US stocks softer, Tech underperformed stoked by data centre spending concerns – Newsquawk Daily Asia-Pac Opening News

News Snapshot:

US stocks finished lower as risk tone soured, with Technology the clear sectoral laggard as AI-infrastructure exposed names were hit hard after WSJ reported that OpenAI missed targets, which stoked data centre spending concerns. Overall, sectors closed mixed, with Energy the clear gainer, followed by Consumer Staples, as the former was supported by strength in crude benchmarks, given that the lack of progress between the US and Iran outweighed the UAE exiting OPEC and OPEC+.UAE announced it will quit OPEC and OPEC+, as of the 1st of May. To bring additional production to the market, in a "gradual and measured…

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