Asian Stocks Skid, Wall Street and Bonds Aided by Oil Slip
Tech shares fell as investors worried AI spending could reach $1.2 trillion next year, while oil losses helped support bonds and U.S. futures.
- On Monday, Asian share markets slipped as concerns over AI's enormous funding needs undermined investor confidence, with Japan's Nikkei falling 2.0% and South Korea dropping 1.6%.
- Goldman Sachs reports five AI hyperscalers, including Meta, plan to increase capital spending to about $1.2 trillion next year, raising investor concerns about revenue recoupment.
- Safe-Haven flows extended a rally in sovereign bonds with 10-year Treasury yields down to 5.0645%, while Brent futures fell 1.6% to US$108.06 a barrel, offering limited support.
- Markets await earnings reports this Wednesday from Meta, Lam Research, Texas Instruments, and Elon Musk-led companies SpaceX and Tesla, with analysts expecting a 30% earnings rise overall.
- Political uncertainty in France weighed on European stocks, pushing the euro down 0.2% to $1.1212, while US Secretary of State Marco Rubio said on Saturday the president needs up to 60 days to assess economic impacts.
12 Articles
12 Articles
Asian stocks skid, Wall Street and bonds aided by oil slip - Regional Media News
By Wayne Cole SYDNEY, Oct 19 (Reuters) - Asian share markets slipped on Monday as unease over AI's enormous funding needs undermined confidence ahead of a week packed with earnings, while the euro eased in the wake of rioting across France. A fall in oil [...]
Global Market Today: Asian shares fall as AI spending worries weigh on sentiment
A fall in oil prices offered some support to bonds and Wall Street stock futures, limiting Asia's losses. Oil fell following US President Donald Trump's decision to waive some sanctions on Russia, though he later said a final decision on the matter had not been made.
Channel News Asia
Asian stocks skid, Wall Street and bonds aided by oil slip
SYDNEY, Oct 19 : Asian share markets slipped on Monday as unease over AI's enormous funding needs undermined confidence ahead of a week packed with earnings, while the euro eased in the wake of rioting across France.A fall in oil prices offered some support to bonds and Wall Street stock futures, limiting Asi
Asian stock markets weakened, driven by investor concerns about the prospects for AI and infrastructure spending. Earnings from major US companies are awaited.
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