Economy

AI fever on Wall Street
Expert on Wall Street's next test: "Need to deliver"

The AI ​​fever at the beginning of the year has given many investors on Wall Street a scare. Now the next test is approaching: the Nvidia report at the end of February. That's what Anders Rudolfsson, stock exchange veteran and stockbroker at the Bank of Ålands, tells EFN.

- They will need to deliver good numbers to turn the sentiment around, he says.

Rudolfsson points out that Wall Street has had its worst start in 20 years, while the January stock market usually becomes something of a temperature gauge for the mood for the rest of the year. And so far, there are no signs of a trend change, he says. 

EU proposal: Local manufacturing required for electric car support

Electric car companies may have to ensure that 70 percent of the components in their vehicles are manufactured in the EU in order to receive state support. This is stated in a draft law from the EU Commission that the Financial Times has seen.

The aim is to protect the Union's industry from fierce Chinese competition.

The bill also states that several key battery components must originate in the EU. However, the newspaper writes that the number 70 is placed in brackets, meaning that the level is still under discussion.