GLOBAL MARKETS-Asia Stocks Crumble After AI Rout Rocks US Markets
Semiconductor shares led the decline as investors worried Democrats may slow the AI boom and $3 trillion was wiped from S&P 500 companies, traders said.
- Asian tech markets plummeted on Friday following a bruising U.S. selloff, with the Nasdaq sinking 5.5% as investors grew anxious about artificial intelligence spending sustainability.
- Democrats' midterm victory prompted investor fears that new administrations might impose strict regulations on artificial intelligence infrastructure and pause data center construction.
- South Korea's Kospi Index plunged 8.8%, triggering a 20-minute trading halt, while Japan's Nikkei 225 tumbled 5.7% as memory chipmakers SK Hynix and Kioxia bore the brunt.
- Wall Street's 'fear gauge' soared as $3 trillion in market value vanished from S&P 500 companies, with leveraged positions forcing rapid liquidations across sectors.
- Saxo chief investment strategist Charu Chanana noted the selloff reflects a reassessment of future infrastructure demand, cautioning "this may be the end of rewarding every company associated with AI equally.
31 Articles
31 Articles
We read the business news and check the stock prices from the morning. Here is your complete Business overview.
Bangkok, Nov 6 (EFE).- Asia's main stock exchanges fell this Friday to about 9% in which analysts consider the worst collapse since 2020, motivated by the artificial intelligence sector (AI) in the fear that the Democratic Party's victory in the United States threatens the boom [...] The entry Asia's stock exchanges suffer the worst collapse since 2020 weighed by the AI sector was first published in HolaNews.
With losses of up to 9% in Asia and the Nasdaq 100's biggest drop since 2020, investors are abandoning AI stocks en masse – Nvidia, Samsung, SK Hynix and SoftBank are in the spotlight
Deutsche Welle
INTELLINEWSAsian stocks slump after US tech rout amid AI jitters
Concerns that Democrats in the US will push back against data center projects are weighing on an AI trade that is already on shaky footing amid growing doubts about profitability.
Coverage Details
Bias Distribution
- 58% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
