Asian Tech Stocks Plunge as Apple Outlook and AI Fears Hit Regional Markets
Asian equity markets faced a sharp sell-off on Tuesday, with technology-heavy indices in South Korea and Taiwan hitting three-month lows. The decline followed a volatile week on Wall Street, where concerns over artificial intelligence spending and Apple's disappointing holiday outlook weighed on sentiment. While oil prices initially dropped on hopes for U.S.-Iran peace talks, they rebounded after reports of a U.S. strike on Iran. Meanwhile, the Reserve Bank of Australia raised interest rates to an 18-year high to combat persistent inflation.
