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Asian markets tumble as AI hype fuels sell‑off

Financial Times Companies •
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Asian equity indexes slumped Friday, dragging US futures lower. Japan's Nikkei 225 fell up to 5%, hit hard by a 14% plunge in Soft Bank shares after reports that Open AI may postpone its IPO to 2027. South Korea’s Kospi triggered a circuit breaker, diving 8% as Samsung and SK Hynix each dropped around 9%.

Apple's surprise price hikes of roughly 20% for MacBooks and iPads sparked a 6.1% sell‑off, erasing more than $260 billion of market value and amplifying worries over rising memory costs. The move underscored how AI‑driven demand for chips and storage is pressuring consumer‑tech margins, while Micron rallied 16% on a near‑15‑fold profit surge.

Commodity prices slipped, with Brent crude down 1.7% to about $74 a barrel after a temporary US‑Iran deal, while gold and bitcoin each fell modestly. The coordinated declines highlight investor anxiety over inflation, rate‑rise expectations and the sustainability of AI‑fuelled growth, prompting a cautious start for global markets.