Asian stocks slide as investors pull back from AI shares
Asian stock markets took a noticeable dip on Tuesday, mostly because investors are pulling back from AI-related stocks.
The MSCI Asia Pacific Index slid 0.9% and headed for its weakest close since mid-August.
South Korea's Kospi led the fall with a steep 5.24% drop, thanks to big losses for chipmakers like SK Hynix and Samsung Electronics.
Japan's Nikkei 225 fell 2.34% after a break, and Taiwan's TAIEX slipped by 1.22%.
Wall Street eyes bank earnings, CPI
It's not just Asia. Wall Street has been shaky too, with US tech futures down and rising borrowing costs making people nervous about pouring more money into AI right now.
Everyone's watching for upcoming earnings from major banks like Goldman Sachs and JPMorgan Chase to see what happens next.
Oil prices have also dipped slightly, while investors await this week's US consumer price index for fresh signals on inflation as they try to figure out where the economy is headed next.