Investors retreat from AI stocks, global markets hit a major setback

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BlockBeats news, July 17, Friday: global stock markets fell sharply, and investors rushed to exit AI tech stocks. The Nikkei 225 index in Japan, which is mainly comprised of technology stocks, once dropped by more than 5% intraday. A Tokyo brokerage source said: “This is one of the worst trading days in the Tokyo market in a very long time. Many investors have used Japanese technology stocks to make extremely aggressive bets on tech and AI, and now they are quickly pulling out.”

US stock index futures show that US stocks may open lower. In Europe, European Stoxx 600 index futures indicate that European stocks may open down 0.6%. Richard Yetsenga, Chief Economist and Head of Research at Australia and New Zealand Banking Group, said this round of decline has exposed how unsettling it is that many current markets and a large amount of economic activity are dependent on the AI boom. (Jin10)

JPN225-4.26%
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