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The yield on 10-year bonds eased to 5.09 per cent from 5.32 per cent, but remains elevated. Higher bond yields that have made borrowing more expensive could make it more difficult for companies to raise cash to build data centres and fill them with AI chips.<\/p>\n
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The latest inflation figures showed Wednesday that prices remain well above the Federal Reserve\u2019s two per cent target, putting in play another potential interest rate hike before the end of the year, which also puts pressure on the equities market.<\/p>\n
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The government\u2019s latest report on wholesale prices, the producer price index, arrives Thursday along with another trove of corporate earnings reports.<\/p>\n
Canada\u2019s main stock index, the Toronto Stock Exchange, fell 0.2 per cent early Thursday, with shares in Canadian tech giant Celestica falling close to seven per cent.<\/p>\n
In Asia, South Korea\u2019s benchmark Kospi index lost 7.6 per cent to 5,554.22. It plummeted more than 16 per cent over the past month and was well below the 9,000 mark that it crossed in June at its all-time high driven by optimism over the global artificial intelligence frenzy.<\/p>\n
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\n\t\t\tMore on Economy<\/button>More videos<\/button>\n\t\t<\/p>\n<\/p><\/div>\nSamsung Electronics slid 9.5 per cent and South Korean memory chipmaker SK Hynix plunged 11.1 per cent.<\/p>\n
Japan\u2019s Nikkei 225 tumbled 4.9 per cent to 64,425.95. OpenAI investor SoftBank Group lost 9.3 per cent. Chip equipment maker Tokyo Electron dropped 7.8 per cent, and memory chipmaker Kioxia Holdings lost 12.3 per cent.<\/p>\n
Taiwan\u2019s Taiex, which also benefited from the AI boom, fell 3.4 per cent. Its leading chipmaker Taiwan Semiconductor Manufacturing Co., or TSMC, dropped two per cent ahead of its earnings report. TSMC reported on Thursday another record profit for the latest quarter, which was better than what analysts had expected, and the company said AI demand remains very strong.<\/p>\n
\u201cThe problem for heavily technology-weighted markets such as Korea and Taiwan, to a lesser extent Japan, is that any risk to perceived AI spending growth may lead to slower demand growth for chips and equipment,\u201d said Lorraine Tan, director of equity research for Asia at Morningstar.<\/p>\n
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\u201cThe key issue is a possible mismatch between the market\u2019s growth expectations for the tech sector and what may eventuate,\u201d she said.<\/p>\n
Hong Kong\u2019s Hang Seng dropped one per cent to 24,062.72. The Shanghai Composite index slipped 1.6 per cent to 3,707.48.<\/p>\n
Australia\u2019s S&P\/ASX 200 edged down 0.1 per cent to 8,719.70.<\/p>\n
At midday in Europe, Britain\u2019s FTSE 100 rose 0.7 per cent, France\u2019s CAC 40 gave back 0.3 per cent and Germany\u2019s DAX was down 0.4 per cent.<\/p>\n
Oil prices fell as tensions and uncertainties surrounding global oil supply and the situation in the Middle East dragged on. Brent crude, the international standard, declined more than one per cent to US$104.91 per barrel. That\u2019s still elevated compared with the approximately $72 per barrel level before the start of the Iran war in late February.<\/p>\n
U.S. crude was up 23 cents a barrel to $95.32.<\/p>\n
\u2013 with a file from Global News\u2019 Ariel Rabinovitch<\/em><\/p>\n<\/p><\/div>\n\n
\n\t\t© 2026 The Canadian Press\t<\/p>\n<\/div>\n
Source: <\/p>\n
: World<\/div>\n","protected":false},"excerpt":{"rendered":"
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