Asian equities dropped as artificial intelligence spending concerns fueled chipmaker selloffs. Crude oil extended its decline, with Brent slumping significantly on Monday. Investors await policy decisions from the Fed, Bank of Japan, and Bank of England. Earnings from megacap technology companies are also a key focus this week. Geopolitical developments and oil prices remain significant wild cards for markets.
South Korea’s Kospi tanks 8% despite US-Iran war optimism. Here are 4 reasons why
The benchmark Kospi plunged 551 points, or 8.1%, to 6,2505. The steep decline triggered “sidecar” trading curbs on both the Kospi and the junior Kosdaq