US inflation sparks AI jitters, deepening tech sell-off across markets.
Context
What happened: Asian stocks fell as technology shares sold off after US inflation data topped forecasts, with Seoul and Tokyo hit hardest as traders exited chipmakers.
Key numbers: US CPI rose to 3.7 percent in September. Seoul's Kospi fell more than 8 percent, SK hynix over 11 percent, Samsung over 9 percent. Tokyo fell close to 6 percent.
Why it matters: The data raised expectations the Fed will hike rates again, pressuring tech firms that rely on borrowing for AI investments. Analysts also cited AI buildout worries, valuations, earnings growth and Chinese competition.
Coverage: 3 outlets in 24h