Global Stocks, Bonds Fall as Kospi Tumbles 6% on AI Doubts and Oil Surge
Updated
Updated · Bloomberg · Jul 24
Global Stocks, Bonds Fall as Kospi Tumbles 6% on AI Doubts and Oil Surge
3 articles · Updated · Bloomberg · Jul 24
Summary
MSCI’s Asia Pacific equities gauge dropped 2.1% and global bonds also fell as investors questioned returns on billions spent on AI and braced for renewed inflation pressure.
Oil’s surge sharpened that inflation worry, while chip heavyweights Samsung Electronics and Taiwan Semiconductor Manufacturing led the equity selloff and Nasdaq 100 futures turned 0.3% lower.
South Korea’s Kospi suffered the steepest hit, tumbling 6% after an earlier 1.35% opening decline, extending a broader retreat from Wall Street into Asia.
Brent crude had already pushed above $100 a barrel amid escalating US-Iran tensions, adding a geopolitical shock to markets already reassessing AI-driven valuations.