Investors pull out of AI stocks, global markets take a heavy hit.
1 hours ago
On Friday, global stock markets posted sharp declines as investors fled AI tech stocks. Japan’s tech-heavy Nikkei 225 index fell more than 5% intraday at one point. A Tokyo-based brokerage executive said: “This is one of the worst trading days for the Tokyo market in a long time. Many investors had placed extremely aggressive bets on tech and AI via Japanese tech stocks, and now they are rushing to exit.” U.S. stock index futures signal the U.S. market is likely to open lower. In Europe, Euro Stoxx 600 futures point to a 0.6% drop at the open. Richard Yetsenga, chief economist and head of research at ANZ, noted that the sell-off has exposed an alarming level of reliance on the AI boom across many current markets and a large portion of economic activity. (Jinshi)
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