ASX set to jump as Wall Street steadies after AI sell-off

Wall Street steadied after sharp global drops in AI stocks, with the S&P 500 recovering to add 0.2 per cent. Australian futures point to a 0.9 per cent rise at the ASX open. Earlier, a sell-off in AI stocks hit global markets, sending South Korea's Kospi down 7.6 per cent and Japan's Nikkei down 4.9 per cent. Rising bond yields and debt loads at AI firms like CoreWeave fueled concerns about the sustainability of the AI spending boom. Treasury yields fell to 5.09 per cent, and most non-AI stocks rose, led by Marsh. European indexes gained, with London's FTSE 100 up 1.1 per cent.