Latest Irish Life weekly markets update

Key talking points include:

• Global equities sold off sharply as investors reassessed high expectations surrounding AI investment and the returns it could generate. Losses were concentrated in US and Asian technology shares, while European equities held up well, helped by their lower exposure to AI-related stocks.
• The S&P 500 fell 2.7% (MTD -2.7%, YTD +7.8%), while the STOXX 600 in Europe rose 0.2% (MTD +0.2%, YTD +9.5%).
• Attention turns to US inflation and further technology earnings this week. Tuesday's CPI and Friday's PPI reports will provide clues on the outlook for interest rates, while Thursday's results from Cisco and Applied Materials will test sentiment towards AI-related spending.