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Oil Prices Slide as U.S.-Iran Deal and Hormuz Reopening Ease Supply Concerns 
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Canada Imposes 10% Tariff on Canned Vegetable Imports to Protect Domestic Industry 
Fed Chair Kevin Warsh Signals Policy Overhaul as Hawkish Rate Outlook Rattles Markets 
Japan Signals Readiness to Intervene as USD/JPY Nears 161 Amid Yen Weakness 
Japan Inflation Stays Below BOJ Target Despite Rate Hike and Rising Energy Cost Risks 
Dollar Hits One-Month High as Hawkish Fed Outlook Boosts Greenback 
Trump Says No Hormuz Strait Tolls During 60-Day Iran Ceasefire 
German Auto Suppliers Turn Bearish as Investment and Jobs Shift Overseas 
China’s AI Manufacturing Boom Masks Weak Consumer Economy, Citi Says 
Yen Near 40-Year Lows Despite BOJ Rate Hike, Markets Brace for Possible Intervention 
US Stock Futures Slip After Wall Street Rally Fueled by US-Iran Deal and Chipmaker Surge 
Asian Stocks Rally as Japan and South Korea Reach Record Highs on US-Iran Peace Deal 
Europe EV Demand Surges as Fuel Prices Rise Amid Iran Conflict 
Australia Eases Capital Gains Tax Reforms to Support Small Businesses and Startups 
Asian chipmaking and technology stocks tumbled sharply on Wednesday, tracking heavy overnight losses in U.S. markets as investors grew increasingly wary of an artificial intelligence (AI)-driven market bubble.
South Korea’s KOSPI led regional declines, dropping as much as 6% as major tech firms SK Hynix Inc. (KS:000660) and Samsung Electronics Co. Ltd. (KS:005930) each shed nearly 6%. Taiwan Semiconductor Manufacturing Co. (TW:2330), a key player in the global AI supply chain, fell around 3%, while Hon Hai Precision Industry Co. Ltd. (TW:2317) dropped 1.8%.
Japan’s Nikkei 225 slumped 4.5%, dragged down by tech losses. SoftBank Group Corp. (TYO:9984) plunged nearly 14%, while Advantest Corp. (TYO:6857) and Lasertec Corp. (TYO:6920) sank 9.7% and 8.5%, respectively. Hong Kong’s Hang Seng Index slipped 1.1%, with Semiconductor Manufacturing International Corp. (HK:0981) losing 2.5%, and tech heavyweights Alibaba Group (HK:9988), Baidu Inc. (HK:9888), and Tencent Holdings Ltd. (HK:0700) sliding between 1% and 3%.
The selloff followed warnings from Wall Street executives at Morgan Stanley and Goldman Sachs about inflated valuations in the tech sector. Investor Michael Burry, known for predicting the 2008 financial crisis, also shorted AI leaders NVIDIA Corp. (NASDAQ:NVDA) and Palantir Technologies Inc. (NASDAQ:PLTR), adding to the bearish sentiment.
Wall Street’s NASDAQ Composite fell 2% overnight, with positive earnings from Palantir and AMD (NASDAQ:AMD) doing little to calm nerves. Investors grew uneasy as Meta and Microsoft’s soaring AI-related capital expenditures failed to deliver proportional returns, squeezing profit margins.
Concerns over circular AI financing intensified after NVIDIA announced a $100 billion investment in OpenAI—a major buyer of its chips—fueling fears of an overheated market. With NVIDIA’s earnings due on November 19, traders now await fresh signals that could determine the next major move in global tech stocks.
