Business · Markets · 1 hr ago

Tokyo shares fall 0.9% as AI and chip concerns spread

Tokyo shares fall 0.9% as AI and chip concerns spread

Tokyo’s Nikkei fell 0.9% at the week’s opening on Monday.

The decline followed a sell-off in US companies tied to artificial intelligence and semiconductors.

The Philadelphia Semiconductor Index had fallen for eight consecutive sessions.

Investors are worried that AI companies are investing too much and may have trouble financing that spending.

Those concerns spread quickly to Tokyo’s market.

The Nikkei stood at 64,735.74, down 588 points at the open.

The yen gained ground against the US dollar and was stable against the euro.

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