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AI Chip Sell-Off Rocks Global Markets | Business and Finance News
Description
Asian markets plunged today as chip stocks like SK Hynix and Samsung Electronics crashed, dragging the Kospi down 5%, fueled by investor fears of oversupply in the AI boom. Wall Street echoed the selloff, reversing earlier tech euphoria that saw Kospi surge 85% this year. Europe stayed calm, but U.S. markets are on edge ahead of an early jobs report—expected to show 115K new jobs—potentially forcing the new Fed chair to hold rates higher longer. Analysts now warn AI demand may not explode as fast as hoped, adding chill to tech stocks and investor nerves.
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