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Tech Costs Rise as Asian Markets Dip
Description
Asian markets took a hit after hitting record highs, as tech giants like Apple start passing on rising costs to consumers amid skyrocketing demand for AI chips and supply shortages. This inflationary pressure signals a potential cooling tech boom, dragging down indexes like Japan’s Nikkei and South Korea’s KOSPI — even China’s markets felt the pain. Meanwhile, the yen hit a 40-year low against the dollar, sparking speculation that Japanese authorities may intervene. Oil prices dipped slightly after a spike tied to a ship incident in the Strait of Hormuz, but tanker traffic easing has calmed supply fears. The global picture remains complex as markets brace for the next quarter.
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