AI Investment Woes and Silver Slide Shake Asian Markets
Asian stocks plummeted amid concerns over AI investment costs, leading to a shift away from tech stocks. Google's high capital expenditure projections and disappointing earnings from AMD only exacerbated the downturn. Additionally, precious metals, including silver and gold, suffered significant losses, further impacting global market sentiments.
On Thursday, Asian stocks faced a sharp decline as rising AI investment costs prompted investors to exit technology sectors. The substantial capital expenditure forecast by Google parent Alphabet further unsettled the market.
In a clear shift, investors showed a preference for defensive stocks like Walmart. This market dynamic was also influenced by disappointing earnings from chipmaker Advanced Micro Devices, which saw its shares plummet 17% overnight.
Adding to the pressure, silver and gold prices experienced notable drops, with silver diving 13% and gold falling by 2%. These factors combined to create a turbulent environment for global markets.
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