Inflation concerns rattle Treasuries and stocks.

Investors have shown they are excited about AI's prospects, but they want tech companies to continue to focus on revenue and profit in the meantime.

Roiled markets | Bond and stock markets were rattled on Thursday by data that showed exactly what investors did not want to hear: a sharp slowdown in the world's largest economy and stubborn inflationary pressures. Treasuries sold off, with yields hitting fresh 2024 highs as the economic figures revived chatter about “stagflation” — bringing more uncertainty to the path of Federal Reserve policy. Swap traders pushed back their expectations for the timing of a first-rate cut to December. Stocks also struggled but trimmed most of an earlier slide amid a surge in two heavyweights: Nvidia and Tesla. Their rally offset a post-earnings plunge in fellow megacap Meta Platforms.