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Asian Stocks Slip Amid Tech Worries
Asian stocks fell on Friday as technology shares reversed course. The MSCI Asia-Pacific Index dropped 0.3%, while South Korea’s Kospi fell 1.1% and the Hang Seng Index declined 1.4%. The losses came amid investor concerns over a leadership crisis at Nvidia following the resignation of its founder, Jensen Huang. The company’s shares fell as much as 14% on Thursday, closing down 4.3%, then lost another 2% in after-hours trading after CFO Colette Kress took over as interim CEO. Investors are also concerned that the leadership change and potential US restrictions could affect Chinese AI companies’ access to Nvidia’s chips and supply chains.
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