AI Slump Deepens In Asia Following US Midterms

From Bloomberg Daybreak: Asia Edition · 20:05

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Business and finance news from the Asia-Pacific. Asian stocks slumped, with tech bellwether Taiwan dropping the most in more than a year, extending a post-election rout in chipmakers that deepened on Wall Street due to growing concern Democrats will seek tighter regulation of the artificial intelligence industry. South Korea's tech-heavy Kospi Index slid as much as 8.8%, triggering a circuit breaker, with chipmakers Samsung Electronics Co. and SK Hynix Inc. both plunging more than 6%. Japan's benchmark Nikkei 225 Stock Average tumbled 5.7%, while the MSCI Asia Pacific Index declined 4.2%. Taiwan's key index sank 6.2%, weighed down by a slump in Taiwan Semiconductor Manufacturing Co. The S&P 500 Index plunged 4.4% on Thursday to mark its worst performance since the April 2025 tariff meltdown. The Nasdaq 100 slid 6.4%, wiping out $2.3 trillion in value as it capped its worst session since March 2020. A closely watched gauge of chip giants tumbled 12%, with Nvidia Corp., Qualcomm Inc. and Arm Holdings Plc among the biggest decliners. In a sign markets may be starting to stabilize, futures on the Nasdaq gauge gained 0.9%. We speak to Bloomberg's Sunny Bangia. And - Richard Howes, Managing Director at Hearts & Minds Investment, discusses the investment opportunities in the private credit markets. He speaks with Haidi Stroud-Watts on the sidelines of the Sohn Hearts & Minds conference in Queenstown, New Zealand.See omnystudio.com/listener for privacy information.

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