22 Hrs
Source:
الاقتصادية
Source: الاقتصادية
22 Hrsالاقتصادية
Source: الاقتصادية
22 HrsReady to play
Ready to play
Global stocks retreated to their lowest levels in a month, while chip company shares experienced a sharp decline amid rising concerns over Chinese competition and funding for AI developments. The South Korean KOSPI index fell more than 10%, hitting its lowest in three months and on track for the biggest monthly loss since the 1997 crisis, with shares of Samsung and SK Hynix dropping over 12%. Major companies in the AI and semiconductor sectors, such as Nvidia, also declined amid fears of rising financing costs and potential reductions in sector profitability, especially in Asia. The pressure on European chip companies increased as China began manufacturing advanced technologies, leading to an 8.5% drop in ASM International. Meanwhile, oil prices continued to fall below $86 per barrel as markets awaited the US Federal Reserve's decision on interest rate hikes, with a 35% probability of a rate increase, amid growing concerns over the impact of the US-Iran war on energy markets and the global economy.
Notice: This Is an AI-Generated Summary
Comments (0)