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Japan's Nikkei plunges as tech stocks hammered by AI, rate hike worries
TOKYO: Japan’s Nikkei share average tumbled nearly 5% on Thursday, with tech stocks hit hard by media reports about distressed debt at US cloud-computing provider CoreWeave, while hot US inflation figures sparked fears of higher interest rates. The tech-heavy Nikkei dropped 4.8% to 64,489.06 as of the midday recess, while the broader Topix fell 2.5%. Selling was concentrated among AI-linked stocks, with chip equipment makers Advantest and Tokyo Electron sliding 13.9% and 7.3%, respectively. AI-focused startup investor SoftBank Group skidded 9.4%. Overnight, a hotter-than-expected US CPI readin...
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