Christchurch Attacker Loses Appeal as Tech Earnings Stir Market Jitters

By Blessing Nweke

A white supremacist responsible for killing 51 worshippers at two mosques in New Zealand has lost his bid to overturn his convictions and life sentence, bringing a renewed sense of closure to one of the country’s darkest chapters.

In a separate development shaping global headlines, major technology firms delivered quarterly earnings that exceeded official forecasts but failed to meet investors’ lofty expectations tied to the artificial intelligence boom. Shares of Alphabet surged as much as 6% in after-hours trading after reporting stronger-than-expected results and increasing planned spending on AI infrastructure.

However, performance across the sector was uneven. Meta saw its stock fall more than 5% after warning that revenue growth could stagnate in the coming quarter. Meanwhile, Amazon and Microsoft posted mixed results, with both stocks slipping about 3%.

Despite geopolitical tensions, including conflict involving Iran and rising oil prices, U.S. markets remain near record highs. Analysts point to resilient consumer spending and strong corporate profits, particularly among the so-called “Magnificent 7” — a group that includes Apple, Nvidia and Tesla — which collectively drive a significant portion of the S&P 500’s performance.

Still, the market’s heavy reliance on these tech giants raises concerns. Investors are increasingly focused on whether massive investments in AI will generate sustainable returns. Reports suggesting that OpenAI may miss key targets have also weighed on sentiment, though the company dismissed such claims.

For now, cautious optimism prevails, with investors balancing strong earnings against lingering uncertainties about AI-driven growth.