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Economics

Asian markets lost almost $1 trillion

Asian markets lost almost $1 trillion amid a massive sell-off of tech giants' shares.

Asian markets have lost almost $1 trillion

Asian markets lost nearly $1 trillion amid a massive sell-off in tech giants' stocks.

The most notable drop was shown by South Korea's Kospi index, which fell by about 8%, after which the exchange halted trading for 20 minutes. Japan's Nikkei 225 declined by 5%, the Shanghai Stock Exchange dropped by 2%, and the Taiwanese market fell by 1.5%.

Analysts attribute this dynamic to a decline in investor appetite for riskier assets. This is largely explained by concerns over rising inflation in the US and potential interest rate hikes. Additional pressure stems from uncertainty surrounding the return on investment in artificial intelligence and intensifying competition from Chinese companies.

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