Global Market: Japan's Nikkei falls 3% as AI spending concerns hit chip stocks; BOJ holds rates

What happened: Japan's Nikkei 225 fell as much as 3% as concerns over AI spending hit chip stocks, following overnight losses on Wall Street after earnings from Amazon.com and Intel. The Bank of Japan held rates. Key numbers: Nikkei 225 down 2.8% at 50,200, after earlier falling 3%. Why it matters: Concerns over the profitability of AI investments have increasingly weighed on technology shares, with Japanese equities particularly vulnerable to weakness in US technology stocks. The BOJ decision keeps the door open for another rate hike as soon as December. Coverage: 4 outlets in 24h

Japan's Nikkei 225 fell as much as 3% as concerns over AI spending hit chip stocks, following overnight losses on Wall Street after earnings from Amazon.com and Intel. The Bank of Japan held rates.

Concerns over the profitability of AI investments have increasingly weighed on technology shares, with Japanese equities particularly vulnerable to weakness in US technology stocks. The BOJ decision keeps the door open for another rate hike as soon as December.