Selloff intensifies
A global rout in risky assets looks set to extend into a third day as investors turn more sceptical on artificial intelligence spending and pull back on expectations for a rate cut at the Federal Reserve’s December meeting. North American equity futures—particularly on technology-focused indices—are pointing to renewed selling pressure at this morning’s open, Treasury yields are modestly higher across the curve, and the dollar is trading higher against most of its counterparts as investors seek liquidity. The Canadian dollar and euro are outperforming on the crosses while the Mexican peso and Australian dollar drop relative to the safe-haven Japanese...