Asian markets slip as AI worries weigh on tech earnings
Asian markets started the week on a down note, with investors feeling uneasy about how artificial intelligence (AI) might impact big tech earnings.
The MSCI Asia Pacific Index slipped 0.2%, echoing Wall Street's recent struggles, especially for AI-related stocks and a key US chip gage, which just saw its longest losing streak since last November.
Tech earnings, central bank policy, geopolitics
All eyes are on this week's earnings reports from tech giants like Microsoft, Alphabet, and Amazon, which could shape confidence in the whole AI sector.
At the same time, central banks in the US and Japan are set to announce policy decisions, most expect interest rates to stay put as inflation and energy costs remain high.
Add in ongoing geopolitical tensions involving the US Iran, and Houthi threats, and it's clear why investors are playing it safe right now.
As chief market analyst at AT Global Markets in Sydney Nick Twidale puts it: Global markets are preparing for another big week.