AI Funding Fears Drag Asian Stocks Lower; SOX Down 3.8% Friday
SOX sits 81% above its 52-week low of $6,160.045.
Summary
AI financing anxiety is now the dominant driver of semis, and it spread into a new session: Asian equities fell Monday with Nikkei -1.2%, Kospi -0.8% and Taiex -1.5%, after the Philadelphia Semiconductor Index dropped 3.8% Friday and the Nasdaq posted its weakest week since June. The trigger is no longer just demand doubt — CoreWeave's share and bond selloff has put credit risk at the center of the AI trade, and selling is spreading to AI-chain names with little financing need, per Tiger Brokers. Notably, strong results from ASML and TSMC last week did not stop the decline, which tells you sentiment is overriding fundamentals right now. China Q3 GDP came in at 4.5% versus 4.4% expected, a mild positive that did little to lift the Shanghai Composite, down 0.55%. Oil's retreat (WTI -0.7% to $100.71) after Trump paused most planned Russia sanctions offers only partial relief.
At the time of this announcement, SOX was trading at $11,137.29 on NASDAQ in the Technology sector. The 52-week trading range was $6,160.04 to $14,655.29. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.