Asian shares slip after another sell-off of AI stocks on Wall St, while oil prices rise

Asian stocks fell after another AI-stock rout in U.S. markets, while oil prices rose. Tokyo’s Nikkei fell 0.5% to 63,878.60, and Korea’s Kospi slipped 0.2% to 7,720.75, with Shanghai and Sydney modestly lower as well. In the United States, the S&P 500 shed 1.6% to 7,266.99, the Dow dropped 953 points (1.9%) to 49,918.78, and the Nasdaq slid about 2%. Heavy losses centered on AI-related names, including Super Micro Computer, which plunged 28% after announcing a roughly $7 billion capital raise via stock and convertible preferred stock. Nvidia and Broadcom also weakened as investors weighed AI valuations and upcoming IPOs like SpaceX against rising energy costs that lifted Brent to $93.10 a barrel.