AI bubble concerns intensify ahead of earnings season
Revenue misses and rising yields fuel AI bubble fears, though strong demand persists.
Revenue misses and rising yields fuel AI bubble fears, though strong demand persists.
Bitcoin briefly topped $84,000 as Asian equities lost over $800 billion in a rout. Key support is at $80,000-$82,000.
European indexes posted modest gains at the open, but traders stayed cautious ahead of upcoming US CPI data and bank earnings.
Asian equities fell sharply on Tuesday, with South Korea's Kospi down about 7%, as tech and chip stocks led losses.
Asian stocks fell heavily on a tech selloff and oil worries. The Kospi led the drop, losing more than 6% to land below 6,000.
KOSPI tumbled nearly 5% to 6,100 as CXMT's memory-chip advance weighed on Samsung and SK Hynix. The index is 10.1% lower over five days.
US stocks closed mixed to start the week, with the Dow rising but the Nasdaq falling sharply on declines in AI and chip stocks.
Big banks report Tuesday; ASML and TSMC follow. Focus on guidance, AI chip demand, and consumer health.
Spain's Ibex led European equity gains while US benchmarks were mixed and the dollar rose.
US stock indices fell on Monday. The S&P 500 and Nasdaq Composite held above their 100-hour moving averages, but the Nasdaq 100 slipped below, giving sellersβ¦
Telecom stocks partially recover after Friday's selloff on SpaceX spectrum deal; CCC and IREN gain on M&A and AI news.
Samsung and SK Hynix slid and the KOSPI fell over 3% even as the Korean won touched a two-year high.
European stocks opened higher, led by Spain's IBEX, with US futures also up. Thin liquidity and Wednesday's US CPI argue for caution.
Public companies release earnings four times a year; early reports, such as banks and tech firms, can signal broader sector trends and move stocks.
The S&P 500 is near its record even though 41% of its stocks sit more than 30% below their highs, with a few mega-caps carrying the index.