Nikkei 225 falls 0.9% as tech stocks drop
Japan’s Nikkei 225 index falls 0.9% to below 65,000 for a third consecutive session, pressured by heavy selling in AI and tech-linked shares.
The Nikkei 225 Index fell 0.9% to below 65,000 on Tuesday, extending its decline to a third consecutive session and tracking a tech-led decline on Wall Street overnight as artificial intelligence infrastructure stocks remained under heavy selling pressure.
Investors also braced for chip giant Nvidia’s earnings report later this week for fresh clues on the strength of AI-related demand.
Additionally, Federal Reserve Chair Kevin Warsh’s speech at the Fed’s annual Jackson Hole symposium on Friday will be closely watched for signals on the central bank’s policy outlook.
On the geopolitical front, the US ramped up sanctions on Iran and its trading partners in an effort to pressure Tehran back to the negotiating table.
Notable losses came from tech and AI-linked stocks, including Kioxia Holdings (-1.9%), Advantest (-4.8%), Taiyo Yuden (-2.1%), Tokyo Electron (-1.9%) and Ibiden Co (-1.1%).