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SoftBank plunges over 10% as Asia markets track Wall Street’s stunning reversal in AI stocks
Asia-Pacific markets fell sharply following U.S. tech stock losses and strong U.S. jobs data, reducing chances of a Federal Reserve rate cut and sparking tech sector sell-offs.
- SoftBank's stock dropped over 10% as Asian shares fell due to uncertainty in the U.S. job market and rising interest rate concerns, contributing to a global decline in markets.
- Japan's Nikkei index fell 2%, and South Korea's market plunged almost 4% in reaction to Wall Street's sharp decline.
- Japan's Prime Minister Sanae Takaichi's government plans to unveil an economic stimulus package exceeding 20 trillion yen, the largest since COVID-19.
- Cleveland Fed President Beth Hammack noted that further rate cuts carry significant risks for the economy amid concerns over financial market stability.
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Coverage Details
Total News Sources77
Leaning Left12Leaning Right12Center21Last UpdatedBias Distribution46% Center
Bias Distribution
- 46% of the sources are Center
46% Center
L 27%
C 46%
R 27%
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