OFF THE WIRE

Oct 16 (Reuters) - Wall Street tumbled on Friday, with CoreWeave, Broadcom and other AI-related technology stocks under renewed pressure, ​while a jump in oil prices spooked traders heading into the weekend.The Nasdaq was on track for a ‌loss of over 4% for the week, hammered by concerns that debt-laden AI infrastructure companies may not turn profits in time to repay debts, particularly with borrowing costs expected to rise.

Gold traded at a premium in India this week for the first time in more than three months as a pullback in prices boosted jewellery purchases, while demand in top consumer China remained subdued.In India, domestic gold prices were quoted around 148,200 rupees per 10 grams on Friday, after touching a two-week low of 145,627 rupees earlier in the week.

Canada’s steel industry, among the sectors hit first and hardest by US President Donald Trump’s tariffs, is starting to turn a corner thanks to an uptick in mining, energy and AI data center projects as well as government support, although the impact has not been even across the country.

Iron ore prices rebounded on Friday after touching more than two-year lows the day before, aided by dip buying amid signs of improving steel margins and downstream consumption in top consumer China.The most-traded iron ore contract on China’s Dalian Commodity Exchange closed daytime trade up 0.07% at 672.5 yuan ($100.57) a metric ton, but posted a weekly loss of 1.5%.The benchmark November iron ore on the Singapore Exchange was 1.11% higher at $90.85 a ton, as of 0805 GMT. It has gained 0.2% so far this week.

Oct 16 (Reuters) - Gold prices ​were largely steady on Friday and were on track for a weekly loss ‌as traders weighed the prospect of further Federal Reserve rate hikes this year following a run of hotter-than-expected US inflation data.