Asian Shares Sink Over 5% as AI Stock Sell-Off Batters Tokyo and Taiwan
Updated
Updated · WBAL TV Baltimore · Jul 17
Asian Shares Sink Over 5% as AI Stock Sell-Off Batters Tokyo and Taiwan
3 articles · Updated · WBAL TV Baltimore · Jul 17
Summary
Tokyo’s Nikkei 225 fell 5% on Friday and Taiwan shares dropped more than 5% as selling in chipmakers and other AI-linked stocks spread across Asian markets.
Weeks of pressure on AI shares intensified on worries valuations have run too far ahead of fundamentals and that demand for memory and processors may fade if AI profits and productivity disappoint.
Wall Street had already signaled the retreat: the Nasdaq lost 1.5% on Thursday, while the S&P 500 slipped 0.5% and the Dow edged down 0.2% despite broadly solid U.S. earnings.
The latest drop extends an earlier rout in Asian tech names including SoftBank, Tokyo Electron and Advantest, showing how concern over AI spending is now dragging wider regional benchmarks lower.