What to expect from Jay Powell’s Jackson Hole speech

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  Good morning from the Financial Times.

• 00:35

  Today is Wednesday, August 20th, and this is your FT News Briefing.

• 00:40

  Investors might be starting to lose their penchant for AI stocks,

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  and Jay Powell is heading to his final Jackson Hole symposium as Fed chair.

• 00:49

  Plus, Novo Nordisk has fallen behind in the weight loss race.

• 00:54

  We'll look at how it's trying to catch up.

• 00:56

  I'm Sonia Hudson, and here's the news you need to start your day.

• 01:08

  Investors have the AI jitters.

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  The tech-heavy Nasdaq Composite fell 1.5% yesterday.

• 01:14

  That's its biggest one-day loss since August 1st.

• 01:18

  Meta and Nvidia saw their stocks drop 2% and 3.5% respectively.

• 01:24

  Palantir shares fell a whopping 9.4%.

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