US AI stock sell-off shakes markets from Wall Street to Asia

3 hours ago

Global markets experienced a tech sell-off, shifting focus from Iran war developments to AI and chipmaker prospects.
Major US indices like Nasdaq and S&P 500 dropped significantly, despite hitting record highs earlier this year driven by AI funding.
Concerns arise over an AI spending bubble, reminiscent of the dot-com era, with tech companies heavily weighing on the S&P 500.
Federal Reserve signals about potential interest rate hikes to tackle inflation have heightened investor worries about borrowing costs.
Alphabet's stock fell sharply after high-profile AI researchers departed, and SpaceX's post-IPO decline raised debt-financing concerns for AI projects.
Asian markets, including South Korea and Japan, saw declines linked to tech and chipmaker stocks, while London's FTSE 100 remained steady.

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