Forex
Asian Stocks Fall Amid AI Development Concerns and Rising Oil Prices
Asian stocks edged lower on Tuesday as concerns grew about the pace of artificial intelligence development.
The MSCI's Asia Pacific equities gauge slipped 0.1 per cent, with benchmarks in Japan and South Korea falling by similar margins.
The sell-off was triggered by a retreat on Wall Street on Monday, where the Philadelphia Semiconductor Index tumbled 5.9 per cent, its biggest drop in more than two months, with Nvidia and Intel among the decliners.
Add to this, oil prices surged, with Brent advancing 0.7 per cent, reviving inflation concerns ahead of Wednesday's US Federal Reserve decision.