business
US stock futures, Asian markets down on concerns over Chinese AI advances
By CNN Newsource at KVIA ABC-7
· July 17, 2026
· 3 min read
By Chris Isidore, CNN
(CNN) — Overseas stocks and US stock futures fell sharply Friday after technological advances announced by a Chinese artificial intelligence company intensified concerns that the AI spending spree driving this year’s market rally could be at risk.
The announcement came f...
Key takeaway The announcement came from Chinese company Moonshot, which unveiled Kimi K3, its most capable AI model, and one it said closed much of the gap with models such as OpenAI’s ChatGPT and Anthropic’s Claude.
Why this matters in The El Paso
The downturn in US stock futures and Asian markets, sparked by Chinese AI company Moonshot's unveiling of its Kimi K3 model, has significant implications for El Paso 's economy. As a city with a growing tech industry, El Paso's businesses and investors are likely to feel the ripple effects of this shift in the global AI landscape. The city's proximity to the US-Mexico border also makes it an important hub for international trade, and the rise in oil futures due to US attacks in Iran could lead to increased inflation concerns, affecting local consumers and businesses. Furthermore, the volatility in the tech sector, particularly among chipmakers like Micron, could impact El Paso's own semiconductor industry, which has been a key driver of economic growth in recent years. As the city continues to invest in its tech infrastructure and attract new businesses, it will be crucial to monitor the developments in the AI sector and their potential impact on El Paso's economy.
About this story
Original reporting by KVIA ABC-7 . The El Paso surfaces reporting from trusted publishers and adds local editorial context so readers can quickly understand what a story means for their community. We attribute every source, link to the original report, and follow a documented editorial standards policy. To understand how stories are selected and reviewed, read our about page .
For the complete original report, visit KVIA ABC-7 . Have a tip or correction? Contact our newsroom .
Category: business ·
Published: July 17, 2026 ·
Source: KVIA ABC-7 ·
Reading time: 3 min
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What is this story about? By Chris Isidore, CNN
(CNN) — Overseas stocks and US stock futures fell sharply Friday after technological advances announced by a Chinese artificial intelligence company intensified concerns that the AI spending spree driving this year’s market rally could be at risk.
The announcement came f...
When was this published? This article was first published on July 17, 2026 by KVIA ABC-7 and curated for The El Paso readers.
Who reported this story? This story was reported by CNN Newsource at KVIA ABC-7. To learn more about how The El Paso selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more business coverage from The El Paso, or browse our daily briefing and topic hubs .
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