Asian markets diverge on AI-bubble fears as Wall Street logs worst day since June
Tech stocks stay volatile across Asia after a Friday sell-off, while Kioxia plunges and oil drops more than 3% amid Iran talks.
What to know
- AI-bubble worries continue to drive volatility in technology stocks across Asia after Wall Street's worst day since June.
- Chipmakers are diverging sharply: Kioxia plunged ~14% on weak guidance while SK Hynix and Samsung surged on Kospi strength.
- Oil prices fell more than 3% amid reports that U.S.-Iran diplomacy in Qatar could reopen the Strait of Hormuz within days.
- Markets are now watching Apple's earnings and Tuesday's U.S. midterm elections, where AI and data-center concerns are rising among voters.
SoftBank Group OpenAI investor, Japanese conglomerateKioxia Holdings Japanese memory chipmakerAlphabet and Amazon Tech giants reporting earnings last weekIran's top diplomat Iranian foreign ministry official
How it unfolded 1 development · click the chart to see its coverage articlesposts
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Oil prices sink more than 3% on Hormuz diplomacy — Brent crude fell 3.3% to $109.66 a barrel and U.S. crude dropped 3.3% to $100.64 a barrel early Monday as markets weighed the Iran talks.
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Asian chipmakers diverge as Kioxia plunges and Kospi surges — Japan's Kioxia Holdings fell roughly 14% after disappointing earnings forecasts and SoftBank Group dropped 1.8%, while South Korea's Kospi jumped 2.3% as Samsung Electronics rose 1.7% and SK Hynix gained 4.2%; the Nikkei slipped 0.1% and Taiwan's TSMC fell 1.5%.
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Apple earnings and U.S. midterms loom over markets
Apple is due to report quarterly earnings later Monday, and investors are also watching Tuesday's U.S. midterm elections, with voters expressing growing concern about AI, data centers, and inflation.
“The final outcome of the diplomatic efforts to avoid a return to all-out war depends on answers provided by the United States to the "Iranian questions"”
— Iran's top diplomat, Iranian foreign ministry official · source -
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https://www. europesays.com/3347467/ Asian shares mostly advance but tech stocks remain volatile, while oil sinks 3.3% # 401k # business # BusinessNews # CrudeOil # CrudeOilPrice # Economy # Finance # FinancialInformation # investing # InvestmentTools # Investor # MarketNews # MORTGAGE # MutualFunds # OilPrice # PersonalFinance # Petroleum # quote…
1 more of the top 2 · 2 posts in this stretch
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More drops for AI and tech stocks overshadow gains for most of Wall Street https:// apnews.com/article/stocks-mark ets-ai-earnings-oil-iran-048328e49e47ce7afe6c1fb9d9acf13d?utm_source=flipboard&utm_medium=activitypub Posted into Top Stories in Business @ top-stories-in-business-thenewsdesk
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Iran's top diplomat says Strait of Hormuz could reopen within days — Iran's top diplomat said in an interview shared on his Telegram channel that Iranian negotiators were in Qatar discussing a proposal that could reopen the Strait of Hormuz within two days if the U.S. meets several conditions, while stressing no direct U.S.-Iran talks were underway.
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China reports factory activity back in contraction — China reported over the weekend that its factory activity returned to contraction territory in October as the economy slowed, prompting its central bank and securities regulator to plan a meeting with financial institutions on Monday to discuss support for the capital market.
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Wall Street logs worst day since June on AI stock sell-off — Investors dumped technology- and AI-related stocks, sending the S&P 500 down 1.8%, the Nasdaq composite down 2.9%, and the Dow Jones Industrial Average down 1.1%.
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Alphabet and Amazon earnings raise doubts on AI spending payoff — Earnings reports from Google parent Alphabet and Amazon rattled markets and raised fresh questions over whether their massive AI-related spending will bring profitable returns as quickly as hoped.
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first by Yahoo! Finance Canada, 10d ago · also Yahoo Finance, Philadelphia Inquirer, AP News, Newsday