Asian stocks slip as AI spending raises default insurance costs
Asian stock markets slipped on Monday, mostly because investors are getting nervous about how much money is being poured into artificial intelligence projects.
With tech companies spending big and not seeing quick returns, insurance costs for corporate defaults have jumped, making markets more jittery.
Even gold took a hit, dropping to its lowest price in a year amid talk stressed investors were selling to raise money for margin calls.
Investors monitor central bank meetings
Japan's Nikkei fell 0.5%, South Korea lost 0.8%, and the MSCI Asia-Pacific ex-Japan index slid 0.4%.
European markets held up a bit better, with EUROSTOXX 50 futures ticking up slightly.
Meanwhile, after a rocky October, Wall Street futures are showing small gains, but everyone's watching upcoming central bank meetings and key US economic reports to see where things go next, especially after Intel's recent stock drop put extra pressure on tech earnings this week.