Asian stocks slide as tech earnings disappoint, AI doubts grow
Asian stocks fell Friday as disappointing tech earnings fueled a selloff in AI-related shares, with South Korea's Kospi dropping over 3% on declines from Samsung Electronics and SK Hynix. The MSCI Asia Pacific Index slipped 0.3%, while Nasdaq 100 futures fell 1.5%. Amazon slumped 7.3% in extended trading on soaring spending and slowing online growth, while Intel plunged 23% after a weak revenue forecast. Alphabet posted a record drop Thursday after underwhelming results, deepening investor doubts about whether heavy AI investment will deliver profits. Treasuries rallied as traders pared Fed rate hike expectations, with two-year yields falling 10 basis points. The yen traded near 157.90 per dollar ahead of the Bank of Japan's expected rate hold, while oil rose on possible US strikes against Iran.