Stocks sink as chip rout deepens, oil set for weekly gain | live
By Rae Wee SINGAPORE, July 17 (Reuters) - A brutal selloff in chipmakers rippled through global markets on Friday, triggering a rout across Asia and setting up steep losses in Europe and the U.S. as investors abruptly reassessed the durability of the artificial intelligence-driven rally. Investors fled risk across Asia, sending MSCI's broadest index of Asia-Pacific shares outside Japan down 2.7%, while the Nikkei tumbled more than 5%, leaving it down more than 13% from its recent peak.
By Rae Wee SINGAPORE, July 17 (Reuters) - A brutal selloff in chipmakers rippled through global markets on Friday, triggering a rout across Asia and setting up steep losses in Europe and the U.S. as investors abruptly reassessed the durability of the artificial intelligence-driven rally. Investors fled risk across Asia, sending MSCI's broadest index of Asia-Pacific shares outside Japan down 2.7%, while the Nikkei tumbled more than 5%, leaving it down more than 13% from its recent peak.
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