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The Economic Times
The Economic Times
Business

Global Market Today: Asian stocks retreat after AI warnings, oil advances

Oil Asia United States Samsung SK Hynix Inc US Federal Reserve Dario Amodei Semiconductor

Asian stocks and US equity-index futures retreated after major artificial intelligence companies called for a slowdown in the technology’s development, raising concerns about a sector that has powered this year’s stock rally. Oil advanced.

MSCI’s Asia Pacific equities index declined 0.5% with losses in Japan and South Korea. Futures on the tech-heavy Nasdaq 100 Index declined over 1% and contracts for the S&P 500 Index fell 0.6%.

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