{
  "id": 14333139,
  "title": "US stocks dip ahead of inflation data as tech sell-off hits Asia",
  "url": "https://urgent.news/2026/10/14/us-stocks-dip-ahead-of-inflation-data-as-tech-sell-off-hits-asia",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-14T00:07:25.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/corporate/2026/10/1554923/us-stocks-dip-ahead-inflation-data-tech-sell-hits-asia"
  },
  "original_language": "en",
  "account": "U.S. stock markets experienced a mixed session on Tuesday, as large American banks reported strong year-on-year profit growth despite rising inflation concerns. JPMorgan Chase, a key player in the banking sector, missed analyst estimates. The company's CFO, Jeremy Barnum, described U.S. consumer spending as robust, and consumer credit as resilient, even with persistent inflationary trends.\n\nThe banking sector's positive earnings provided some support to Wall Street indices, yet investors remained cautious ahead of Wednesday's consumer price index data. The S&P 500 closed flat, while the Dow and Nasdaq ended slightly lower.\n\nIn Asia, equities faced renewed pressure due to worries over the AI investment boom. The selling intensified after Broadcom's CEO, Hock Tan, likened the AI buying frenzy to gambling, stating that many investors had unrealistic expectations and were investing in companies they did not fully understand.\n\nThe International Monetary Fund (IMF) warned of an AI correction at its annual meeting in Bangkok. While AI and related technologies have boosted global growth, the IMF highlighted potential economic gains may not be as substantial as initially expected. South Korea's Kospi index fell by 5.5 percent on the day, with semiconductor giants SK hynix and Samsung experiencing significant losses.\n\nThe tech sector's struggles were evident as Japanese stocks also declined, with Kioxia, a prominent chipmaker, shedding more than 13 percent on the Nikkei 225. The Nikkei lost 1.8 percent in overall trading.",
  "summary": "NEW YORK: Wall Street stocks were mostly lower at the end of a choppy session Tuesday, digesting solid results from US banks and a pullback in Asian markets prompted by worries over the AI investment boom.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}