Nikkei 225 falls 5% on rate and AI concerns

What happened: The Nikkei 225 fell more than 5% in Thursday trade, joining a global tech-stock rout that began in the United States overnight. Key numbers: Nikkei 225 down 5.39% at its low of 64,092.74. Advantest down over 15%, Tokyo Electron about 8%, SoftBank Group over 10%, Kioxia over 11%. Why it matters: A higher-than-expected US inflation reading fed concerns about the economy and high tech valuations, and traders briefly priced a 50% chance of an October rate increase before it fell to 27%. Elevated oil prices and Middle East conflict added to uncertainty. Coverage: 9 outlets in 24h

The Nikkei 225 fell more than 5% in Thursday trade, joining a global tech-stock rout that began in the United States overnight.

A higher-than-expected US inflation reading fed concerns about the economy and high tech valuations, and traders briefly priced a 50% chance of an October rate increase before it fell to 27%. Elevated oil prices and Middle East conflict added to uncertainty.