Asian stocks fall sharply as AI deal frenzy spooks investors
Asian markets dropped sharply on Tuesday, with investors getting nervous about just how much money is pouring into artificial intelligence.
The MSCI Asia Pacific Index slipped 1.2%, South Korea's Kospi tumbled 5.6%, and Japan's Nikkei fell 1.3%.
Big chipmakers like SK Hynix and Samsung Electronics took some of the hardest hits after a decline in US semiconductor stocks.
NVIDIA credit risk spikes oil slumps
NVIDIA's credit risk spiked and its shares slid, as Wall Street worried about more than $750 billion in new AI deals possibly being overkill. Other chip giants like AMD also dipped.
Meanwhile, oil prices slumped as Middle East tensions cooled off, thanks to a pause in U.S.-Iran hostilities and talks to reopen the key Strait of Hormuz for oil shipping.
All eyes are now on big central bank meetings this week that could shake things up even more.