Asian markets slide as US inflation sparks AI selloff
Asian shares dropped sharply following hotter-than-expected US consumer price data that fuelled expectations of further Federal Reserve rate hikes. Technology and artificial intelligence stocks led the broad retreat amid growing financing and credit risks.
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Asian equities tumbled during Thursday morning trade, driven by a 5.6% plunge in South Korea after hotter-than-expected inflation data from the United States. The selloff swept across regional boards as technology shares crumbled under renewed pressure from higher borrowing costs.
