Netweb Technologies and ESDS Software fall amid semiconductor slump
Business
AI-focused stocks like Netweb Technologies and ESDS Software dropped as much as 6% on Thursday, October 15, following a worldwide slump in semiconductor shares.
The trend echoes what's happening in South Korea, where big names like SK Hynix and Samsung Electronics saw sharp losses, pushing the Kospi index into bear market territory.
Investors shift to safer assets
Investors are worried about high stock prices and possible US interest rate hikes after recent data showed rising inflation.
There's also growing concern about how much energy AI technology uses.
With all this uncertainty, many are moving their money to safer bets, causing even more tech companies, from MTAR Tech, Anant Raj, and Black Box, to see their shares slide.