July 29, 2026 8:39 AM
Asian stock rout deepens on AI worries ahead of tech earnings
Asian stocks slid on Wednesday extending a brutal selloff as anxiety about AI valuations, rising competition and spending rocked markets ahead of crucial earnings from big tech firms and a U.S. Federal Reserve policy decision. Oil prices jumped after fresh attacks in the Middle East shattered the relative calm of recent days in the U.S.-Iran war as investors fret about the impact of depleting supplies on prices and global rates. Asian chipmakers have been at the epicentre of this year's AI-dri...