US EditionAsian 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.
30 Articles
30 Articles
The cautious signal from Fed officials who lowered expectations for a third interest rate cut in December has weighed on investment sentiment, while question marks remain over AI's performance - New increase in bond yields
Taiwan shares tumble amid Fed concerns, heavy U.S. losses
Taipei, Nov. 14 (CNA) Shares in Taiwan shed more than 500 points Friday as a sell-off was sparked by a plunge on U.S. markets overnight amid renewed worries that the U.S. Federal Reserve has turned hawkish toward its rate-cut cycle, dealers said.
UPDATE1: Tokyo stocks fall sharply as gains in tech shares locked in - The Morning Sun
Tokyo stocks fell sharply Friday, with the key Nikkei index briefly sliding over 2 percent, as investors locked in gains in heavyweight technology shares following losses by their U.S. counterparts. The 225-issue Nikkei Stock Average ended down 905.30 points, or 1.77 percent, from Thursday at 50,376.53. The broader Topix index finished 21.91 points, or 0.65 percent, lower at 3,359.81. On the top-tier Prime Market, the main decliners were nonferr…
Associated Press News
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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