Market Selloff on Renewed AI Bubble Fears; Lagarde Urges EU Reform | The Pulse 11/21

Global stocks are poised for the worst week in seven months as concerns are looming again over lofty AI valuations and whether massive investments in the sector will pay off. European and Asian shares are also set for their biggest weekly decline since April after Wall Street’s Thursday selloff. Sentiment remained fragile for US assets, with S&P 500 futures fluctuating after the benchmark slipped to its weakest level since September. Stocks struggled as lingering concerns over stretched valuations and heavy tech spending curbed a rally fueled by Nvidia’s upbeat forecast, with the AI bellwether’s shares sliding 3.2%.

European Central Bank President Christine Lagarde said the region’s constant prevarication over measures to boost its economy just can’t continue with yet more years of lost prosperity. In a speech in Frankfurt that touched on themes she has frequently talked about ever since taking office, she urged more and smarter steps toward fostering European integration, not least because the continent’s export-driven business model is no longer in tune with the times.

Today's guest: Will Beckett, Hawksmoor CEO
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"The Pulse With Francine Lacqua" is all about conversations with high profile guests in the beating heart of global business, economics, finance and politics. Based in London, we go wherever the story is, bringing you exclusive interviews and market-moving scoops.

Chapters:
00:00:00 - The Pulse
00:01:11 - Eurozone PMI latest
00:03:02 - Global stocks head for worst week since April
00:06:27 - Zelenskiy reviews Ukraine peace plan
00:09:03 - What's in peace plan proposal for Ukraine
00:10:30 - Germany pushes to let UK join EU defense fund
00:10:57 - US sanctions on Russian oil take effect
00:12:50 - Lagarde urges Europe to spur growth
00:18:02 - Bitcoin's slide deepens as US futures stablizes after selloff
00:19:49 - Miran: Incumbent to move rates toward neutral
00:21:01 - Ubisoft to restate 2025 fiscal year account
00:25:16 - Friday headlines
00:25:49 - UK PMI latest
00:26:41 - ICC on outlook for global trade
00:29:07 - G-20 Summit war of words between S. Africa, US
00:33:17 - Japan unveils biggest stimulus since Covid
00:37:05 - Fed's Goolsbee: Uneasy 'front loading' cuts
00:41:43 - Altman: Foxconn is ideal partner
00:42:28 - Young Liu, Foxconn Chairman
00:45:18 - Will Beckett, Hawksmoor CEO & Co-founder
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