Nikkei falls over 2% amid AI concerns
The Japanese Nikkei index declined by more than 2.69% due to investors' concerns over increased spending on artificial intelligence following Alphabet's stock falling by nearly 7%. This led the market into correction territory, with losses exceeding 7% since the beginning of the month. This decline also impacted Wall Street indices, where the Nasdaq dropped by over 2%. Stocks of electronic chip companies like Advantest and Tokyo Electron also fell, while some domestically supported sectors such as railways and shipping saw slight gains.
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