Japan's Nikkei down 0.7% as AI rout fuels BOJ talk
Business
Japan's Nikkei slipped 0.7% on Monday, closing at 65,528.09.
AI-related stocks got hammered, while worries about inflation and tensions in the Middle East weighed on the broader market.
Now, people are wondering if the Bank of Japan might raise interest rates in September.
Japanese tech mixed, Samsung Alibaba slump
Big names like Fujikura, Advantest, and SoftBank Group saw drops between 3.9% and 5.3%, while Tokyo Electron managed a small gain.
The tech slump wasn't just in Japan. Samsung Electronics fell 9% in South Korea and Alibaba slid 10.5% in China.
Reports NVIDIA AI price hikes
On top of that, reports say NVIDIA plans to hike prices for its AI servers by over 15% because memory costs are rising.
Everyone's watching for NVIDIA's financial results on Wednesday to see what's next for the industry.