US stocks moved lower on Friday, with the S&P 500 down 1% and the Nasdaq falling 1.6%, both hitting one-month lows, while the Dow Jones dropped about 400 points. The tech sector remained under heavy pressure as investors grew increasingly concerned about stretched valuations in AI-related stocks and the risk of a bubble. Concerns also mounted that the Fed may hesitate to cut rates next month, after several policymakers expressed skepticism about the need for another reduction. Market odds of a 25 bps cut in December have fallen to just below 50%, down from nearly 65% earlier in the...
Japanese stocks fell sharply on Wednesday: the Nikkei 225 fell 2.5% to 50,212, and the Topix dropped 1.26% to 3,268. The sell-off was led by technology stocks amid growing concerns about AI valuations. Sentiment became even more fragile after Wall Street executives warned of a potential market correction in the next two years, coupled with uncertainty about the direction of US interest rate cuts. Technology was the main drag: SoftBank Group fell 10% due to its heavy exposure to AI and technology investments. Chip and semiconductor equipment stocks also suffered: Advantest (-6%), Lasertec...
Hong Kong stocks continued their decline on Wednesday, with the Hang Seng Index falling 1.1% to 25,664.92, after losing 0.8% in the previous session. The decline was driven by weakness in major technology stocks such as Alibaba, JD.com, and Tencent, which fell 2.2%, 1.4%, and 1.2%, respectively. Market sentiment was also affected by concerns about an artificial intelligence (AI) bubble and uncertainty regarding the Federal Reserve's interest rate policy, which further curbed investor risk appetite. This decline mirrored weakness in the US market after Palantir Technologies shares fell...
Japanese stocks experienced a sharp decline on Wednesday, led by chip and electronics stocks, which were pressured by weakness in US technology stocks overnight. The Nikkei Stock Average fell 1.9% to 50,523.00. Stocks such as Kioxia Holdings fell 11%, SoftBank Group fell 9.1%, and Advantest plunged 8.1%. This decline reflects uncertainty in the Japanese market regarding the global technology sector. The Japanese yen also weakened slightly against the US dollar, with USD/JPY trading at 153.62, slightly higher than 153.55 at the Tokyo market close the previous day. Investors are now focused...
Asia-Pacific markets declined on Wednesday, following a decline on Wall Street, which was driven by concerns about the valuations of artificial intelligence (AI) stocks. Shares of Palantir, a major player in the AI sector, fell about 8%, despite the company reporting better-than-expected quarterly results. This decline reflects investor caution regarding AI stocks, which are considered overvalued, despite their strong growth. Major stock indices in Asia showed declines, with Australia's S&P/ASX 200 down 0.19%, and Japan's Nikkei 225 down 0.25%. Meanwhile, South Korea's Kospi fell...
US stocks tumbled on Tuesday, with the S&P 500 down 1.1%, the Nasdaq shedding 2.1%, and the Dow losing about 240 points, as investors grew increasingly uneasy over stretched valuations in AI-driven names and cautious outlooks from top Wall Street executives. Tech-heavy losses led the decline, with Palantir plunging 8.1% on valuation concerns despite beating earnings estimates, while Nvidia (-2.7%), AMD (-2.1%), and Oracle (-2.6%) also fell sharply. The pullback comes as the S&P 500's forward P/E ratio climbed above 23, near its highest since 2000, heightening fears of a correction...