AI bubble concerns hit Asia-Pacific stock markets, South Korean stocks plunge 4% at one point, SK Hynix turns positive, gold drops below 4000 intraday
Samsung Electronics and SK Hynix both once fell over 4%. Later, SK Hynix turned positive, while Samsung Electronics remained down more than 2%. The Nikkei 225 Index dropped nearly 2%. The yield on Japan’s 10-year government bonds fell by 10 basis points to 2.78%. Safe-haven currencies such as the yen and Swiss franc strengthened, with the yen up 0.2% and the Swiss franc gaining 0.1%. Gold fell as much as 0.7% intraday, while spot silver dropped as much as 2% during trading. Brent crude climbed to a five-month high of $114 per barrel.