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Asian Shares Slip After Wall Street Logs Its Worst Day in 3 Weeks
Tech stocks fell across major Asian exchanges after weak earnings raised concerns about AI investment returns, despite the Federal Reserve's third consecutive rate cut.
- On Monday, Asian markets dropped in a tech-led selloff, with selling stretching beyond Tokyo and Seoul to Sydney, Singapore, Wellington and Taipei.
- Weak earnings from Oracle and Broadcom last week revived doubts about vast AI investments as tech firms pumped cash into AI and Nvidia topped 5 trillion, amplifying valuation concerns.
- Data show Wall Street suffered losses last week, with the S&P 500 and Nasdaq both shedding more than one percent, impacting Asian tech stocks like Samsung, SK hynix, and SoftBank.
- Currency moves show yen weakness trading at more than 150 per dollar, reinforcing Japan's selloff while Brent North Sea Crude was at $61.36 and West Texas Intermediate at $57.67.
- Investors are watching US jobs and inflation data over the next few days and the Bank of Japan decision on Friday for policy clues after the Fed's third successive rate cut.
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64 Articles
ABC FOX Montana+36 Reposted by 36 other sources
Asian markets drop with Wall St as tech fears revive
Asian markets dropped Monday as concerns about the AI-fuelled tech rally returned to the spotlight after weak earnings from two big-name firms last week revived questions about the wisdom of the vast sums invested in the sector.
·Missoula, United States
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Financial PostReposted by 
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Cryptocurrency News | Cryptocurrency Prices | Market CapAsian Stocks Set for Losses as Tech Concerns Mount: Markets Wrap
(Bloomberg) — Asian markets are poised for a weak open as mounting concerns over the earnings outlook for technology companies saps risk sentiment.
·Canada
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Total News Sources64
Leaning Left12Leaning Right4Center21Last UpdatedBias Distribution57% Center
Bias Distribution
- 57% of the sources are Center
57% Center
L 32%
C 57%
11%
Factuality
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