Asian Shares Sink, with Tokyo Down More than 5% as Slumping AI Stocks Drag World Markets Lower
Tokyo’s Nikkei 225 fell 5% as worries over inflated artificial intelligence valuations drove selling in chipmakers and other tech shares.
- Asian shares fell sharply with Tokyo's Nikkei 225 down nearly 5% due to heavy selling of computer chipmakers and AI-related stocks.
- South Korean markets were closed, but Taiwanese shares dropped over 5% amid the market downturn.
- AI-Related stocks have been pressured for weeks amid concerns about inflated prices and uncertain sustained demand for computer memory and processors.
- Nvidia fell 2.4%, heavily impacting the index, while the Nikkei and Hong Kong's Hang Seng also declined significantly.
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Associated Press News
AI stocks keep dropping, while oil prices keep climbing
More sell-offs for chip stocks and other AI winners are yanking markets lower. The S&P 500 fell 0.8% Friday and was on track to close out just its third losing week in the last 16.
Bad mood came after the New York Stock Exchanges shut down in a generalized slump on the eve, in movement headed by technology actions
On the 17th, the Nikkei 225 average in the Tokyo stock market fell sharply for the second consecutive day. The decline briefly exceeded 4,100 yen, the third largest intraday drop in history. It fell below 63,000 yen for the first time in about a month. This followed a sell-off in semiconductor-related stocks in the US market the previous day due to concerns about high valuations…
Nikkei drops 5% amid heavy selling of chipmakers and AI stocks
Japan's Nikkei 225 plunged 5% as investors dumped chipmaker and AI stocks. SoftBank, Tokyo Electron, and Advantest led losses amid a global tech rout. The post Nikkei drops 5% amid heavy selling of chipmakers and AI stocks appeared first on Crypto Briefing.
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