Global Daily: There we go again!

Stocks were in for a highly volatile ride yesterday. EU stocks started off strongly and US stock futures pointed to sharp gains, supported by a better than expected earnings report from Nvidia. At some point markets turned again, however, as worries about the business case of AI investments regained prominence, while ‘algorithms’ are said to intensify the downward move. EU stocks ended the day with substantially lower gains and opened this morning at a loss, erasing October and November gains. Meanwhile, US stocks saw their biggest intra-day reversal since April, ending the day clearly in the red and the VIX is up sharply. The US and Russia have brokered a Russia favouring peace plan. Ukraine has said to be willing to work on the plan.