By Firstpost-India
US rate cues, a firmer dollar and caution ahead of the Union Budget trigger risk-off mood; financials and IT stocks lead losses
The US Federal Reserve kept its benchmark rate unchanged at 3.50–3.75 per cent, with Chair Jerome Powell saying the economy remains resilient and risks to inflation and employment have eased, pointing to a potentially extended pause before any further rate cuts
In its Q4 earnings report released on Wednesday, Meta revealed that its capital expenditure on AI for 2026 would be between $115 and $135 billion, almost twice the amount spent last year when the company revamped its AI unit.
As Amazon prepares to lay off 16,000 corporate employees, it has offered most US-based employees 90 days to look for a new role internally. This decision contributes to a total of 30,000 job reductions over three months as the company adapts to AI advancements and streamlines management layers.
