Asian Tech Stocks Slide as AI Earnings Test Market Sentiment

Energy prices added another concern. Brent crude traded around USD 110.20 a barrel as investors considered possible further Iranian attacks near the Strait of Hormuz and continued oil shipments from the Persian Gulf. West Texas Intermediate climbed to USD 104.11. Higher oil prices added to investor concerns about persistent global inflation.

Despite weaker stocks, the dollar declined against all Group-of-10 currencies. The Bloomberg Dollar Spot Index slipped 0.2%, while the euro rose to USD 1.1231. Sterling also strengthened, and the yen gained against the US currency.

French political tensions complicated Europe’s outlook. Weekend protests over living costs led to violence and property damage, prompting tighter security and government support for businesses. French bonds declined as fiscal pressures limited the government’s room for additional spending.

Gold fell to about USD 4,125.77 an ounce. In digital assets, Bitcoin held near USD 81,858.81, while Ether rose 0.2% to USD 2,402.02. Separately, Apple confirmed an October 28 event to introduce products, including a planned touch-screen MacBook