Stocks Fall on Credit, War Jitters as Oil Surges: Markets Wrap

Wall Street traders shunned riskier corners of the market, with stocks falling on geopolitical concerns and any issues related to private credit — a key funding source for technology companies. Treasuries climbed at the end of their best month in a year. Oil jumped.

Friday’s drop drove the S&P 500 to its biggest monthly loss since March. Anxiety about an artificial-intelligence bubble resurfaced as OpenAI raised $110 billion. Banks sank, with investors remaining jittery after the recent collapse of a UK mortgage firm. UBS Group AG strategists this week said private-credit default rates could hit as high as 15% if AI sparks an “aggressive” disruption.