Nikkei drops as tech stocks take a hit
Business
Japan's Nikkei 225 slipped 1.2% on Monday, landing at 50,220 points after a wave of selling in AI-focused tech stocks.
The Topix index also edged down slightly.
This comes right after US semiconductor shares tumbled and sparked worries about an AI bubble.
Why does this matter?
Big names like SoftBank and Advantest led the losses, together dragging the index down by over 500 points—showing just how much tech can sway the market these days.
Still, not everything was gloomy: railways, pharma, and retail stocks actually moved up a bit.
What else is going on?
Even with all the volatility, Japan's banks held strong—up 1.3%—thanks to upbeat vibes from manufacturers and hopes for an interest rate hike later this week.