🚨 BLOODBATH IN ASIAN MARKETS.
Over $730 billion has been wiped out from Asian stock markets today as AI and semiconductor stocks sell off.
South Korea's KOSPI is down -7.89%, wiping out ₩481 trillion ($324 billion).
Japan's Nikkei is down -2.47%, wiping out ¥35.3 trillion ($214 billion).
China's SSE is down -2.1%, wiping out ¥1.36 trillion ($191 billion).
Two warnings issued over the last weekend appear to be driving the selloff.
The IMF warned that AI market valuations have become highly speculative and disconnected from fundamentals.
Separately, Wealspring Asset, one of China's most respected hedge funds whose founder called the 2007 market top, said a massive bubble has formed in global AI #stocks and that "the collapse point may not be far away."
Markets are now pricing in both warnings at the same time.
#AsianStocksDeclineOnChipSelloff
Over $730 billion has been wiped out from Asian stock markets today as AI and semiconductor stocks sell off.
South Korea's KOSPI is down -7.89%, wiping out ₩481 trillion ($324 billion).
Japan's Nikkei is down -2.47%, wiping out ¥35.3 trillion ($214 billion).
China's SSE is down -2.1%, wiping out ¥1.36 trillion ($191 billion).
Two warnings issued over the last weekend appear to be driving the selloff.
The IMF warned that AI market valuations have become highly speculative and disconnected from fundamentals.
Separately, Wealspring Asset, one of China's most respected hedge funds whose founder called the 2007 market top, said a massive bubble has formed in global AI #stocks and that "the collapse point may not be far away."
Markets are now pricing in both warnings at the same time.
#AsianStocksDeclineOnChipSelloff