Goldman Sachs and Citigroup were among the biggest losers in the final session of the month in New York after the collapse of UK mortgage firm Market Financial Solutions revived private credit market anxieties.
Sentiment also was hurt by lingering concerns about the hundreds of billions of dollars earmarked for artificial intelligence – and private equity’s ability to help fund it – and whether AI itself is poised to destroy the profitability of an ever widening array of businesses.
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