Asia markets tumble after tech-led plunge on Wall Street from AI jitters

Quick Summary:

Investors soured on the promise of AI, sparking a US$1 trillion rout in the Nasdaq 100 index overnight.

The Japanese unit strengthened to as much as 152.65 per dollar at one point, with Innes saying “traders seem to have shifted from squaring short yen positions to taking long yen bets” ahead of the meeting.

Market watchers are divided on whether Japan’s central bank will raise interest rates again as officials look to normalise their longstanding ultra-loose monetary policy.

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Category: EconomyBusiness

Markets: SingaporeHong KongJapanSouth KoreaMali

Topics: Tesla Tech July Been Being Cent Investors Bank Alphabet Earnings Firms

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-25 @ 11:57:00 (22 hours ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 695 words

Reading Time: 4 minutes read

Sentences: 28 lines

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Copyright Owner: © The Straits Times

News ID: 21768806

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