KOREAN STOCKS PLUNGE 10% FROM RECORD HIGH
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South Korean stocks fell 10% from record highs as investors sold off chip stocks amid concerns the rally had become overextended. The Kospi index declined sharply, with trading suspended for 20 minutes by the Korea Exchange.
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US technology stocks are joining a global selloff as market participants recalibrate their positions on artificial intelligence investments. PNC Asset Management Group's Chief Investment Officer Amanda Agati characterized the pullback as a healthy correction following an exceptional rally.
Walmart has acquired Paris-based Vibe.co for $1.4 billion in cash, gaining technology that enables businesses to create and run targeted ads on streaming services and connected TVs. The deal includes retention bonuses of $180 million for top executives over four years.
Ludovic Subran, chief investment officer and chief economist at Allianz, says markets are beginning to price in the competitive pressures that artificial intelligence will create across industries.
Global investors are redirecting capital from Japan's traditional value stocks toward AI-linked companies, reshaping market dynamics as tech firms climb market-cap rankings ahead of longtime manufacturing and telecom leaders.