Stocks fall as Big Tech overshadows upbeat economy

Quick Summary:

LONDON : Global shares slid on Thursday, after Facebook owner Meta Platforms and Microsoft both warned of accelerating costs for artificial intelligence, while evidence of strong U.S.economic growth kept the dollar underpinned.

Investors were also treading warily ahead of U.S.non-farm payrolls data on Friday, the presidential election next Tuesday and a Federal Reserve policy decision on Thursday.

South Korea's Kospi dropped 1.5 per cent, shrugging off a late recovery in shares in Samsung after the consumer electronics company said it was making headway in AI chip supply.

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Article Details

Category: EconomyBusiness

Markets: SingaporeJapanSouth KoreaMali

Topics: Tech Japan Investors Dollar Shares Hike Thursday Market Cent Rate Fell

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-31 @ 10:26:26 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 792 words

Reading Time: 5 minutes read

Sentences: 24 lines

Sentence Length: 33 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 23348066

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Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

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