Global Market Today: Asian stocks drop on tech jitters, oil edges lower
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Asian stocks dropped early Friday as tech jitters hit the markets.
- ✓The MSCI Asia Pacific index fell 0.1% after Wall Street saw a slump in chipmakers.
- ✓Investors worry about AI spending sustainability after OpenAI revenue reports.
Story at a Glance
- Category
- MARKET
- Reported By
- The Economic Times
- Reading Speed
- 5 Minute(s)
- Market Focus
- India Economy
Asian stocks dropped, tracking declines on Wall Street, as speculation about OpenAI’s revenue revived concerns over the sustainability of the artificial-intelligence spending boom. Oil edged lower.
The MSCI Asia Pacific equities index edged 0.1% lower early Friday. Japan’s Nikkei fell over 1%, with Softbank Group Corp. declining more than 5%. The regional moves came after the Nasdaq 100 Index sank 1.4%, its worst day in seven weeks, while a US gauge of chipmakers slumped 3.4%. The S&P 500 Index dropped 0.5%. Markets are closed in South Korea and Taiwan.
S&P 500 Top Gainers
CoStar Group29.81(8.01%)
Chipotle Mexican Grill32.68(6.21%)
GoDaddy103.19(6.15%)
Unlock the Full Story with ArthNow Premium
To continue reading this complete financial story and in-depth market context, upgrade to ArthNow Premium. Enjoy unlimited access across Web and Mobile.
The Economic Times
Read the full, original unfiltered story directly on the publisher's portal.