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Asian Shares Fall, Tracking Wall Street's Tumble on Worries About AI Stocks and Interest Rates
Asian markets fell with South Korea's Kospi dropping 3.2%, as AI stock declines and reduced expectations for Federal Reserve rate cuts dampened investor sentiment.
- On Friday, Asian shares retreated across Japan, Hong Kong and mainland China as AI-focused stocks dropped, tracking Wall Street's tumble.
- Weak Chinese industrial data showed China's factory output grew at a 14-month low of 4.7% in October, while traders now see a 51.9% chance of a Fed rate cut, down from nearly 70%.
- South Korea's Kospi led losses, falling 3.2% to 4,038.61 as Samsung Electronics shed 4.1% and SK Hynix dropped 6.4%, amid AI-related stock declines.
- The sell-off dented investor confidence, with the S&P 500 sinking 1.7% to 6,737.49 on Thursday and analysts warning a halt in Fed cuts could undermine prices.
- Investors will watch upcoming tech earnings, with a flashpoint next week as Nvidia reports on Wednesday and observers compare AI valuations to the 2000 dot-com bubble, noting Palantir’s 174% gain.
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Associated Press News+10 Reposted by 10 other sources
Asian shares fall, tracking Wall Street's tumble on worries about AI stocks and interest rates
Asian shares are lower, tracking Wall Street’s tumble to one of its worst days since April as Nvidia and other AI superstar stocks kept dropping on worries their prices have shot too high.
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Asian stocks today: Markets fall following Wall Street's losses; HSI sheds 1%, Nikkei down over 840 points
Asian markets fell Friday, mirroring a Wall Street decline, as investors grew cautious about the US Federal Reserve's interest rate decision and potential tech bubble. Concerns over inflation and jobs data, alongside warnings from Fed officials against premature easing, fueled investor ...
Coverage Details
Total News Sources14
Leaning Left4Leaning Right3Center5Last UpdatedBias Distribution42% Center
Bias Distribution
- 42% of the sources are Center
42% Center
L 33%
C 42%
R 25%
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