Chip Rout Deepens, Hot US CPI Raises Fed Rate-Hike Bets | Bloomberg Daybreak: Asia Edition
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Business and finance news from the Asia-Pacific. A selloff in equities spread to Asia after chip stocks tumbled on Wall Street, as hotter-than-expected US inflation fueled bets on more aggressive Federal Reserve rate hikes. Treasuries rallied. MSCI Inc.'s Asia Pacific equities gauge dropped 1.5%, heading for a fourth straight decline, led by losses in South Korea, a bellwether for artificial intelligence investment. The Kospi Index slumped as much as 6.5% to its lowest since late July, with chip heavyweights Samsung Electronics Co. and SK Hynix Inc. tumbling at least 7%. Tech sentiment remained weak, with Nasdaq 100 Index futures falling as much as 1%. Earlier, the Russell 2000 entered a correction and a closely watched gauge of US semiconductor stocks had its longest losing streak since May 2025. CoreWeave Inc. shares plunged as much as 17%. Its debt due in 2032, which investors bought at par four months ago, traded at less than 78 cents on the dollar. Bloomberg's Paul Allen and Haidi
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