TOKYO — South Korea’s Kospi stock index dropped more than 8% on Wednesday as doubts over massive investments in artificial intelligence once again led investors to dump shares. The latest rout was led by a plunge in shares in chipmaker SK Hynix after its operating profit in the last quarter fell short of analysts’ forecasts … Read more
May’s personal consumption expenditure index, the Federal Reserve’s preferred inflation gauge, rose 4.1% year to year, the highest level in three years. CBS News senior business and tech correspondent Jo Ling Kent has more. Source link
BANGKOK — Japan’s benchmark Nikkei 225 index plunged more than 7% early Monday and other Asian markets also tumbled after oil prices soared to about $114 a barrel due to disruptions from the war in the Middle East, casting a shadow over economies heavily dependent on imported crude and gas from the region. The Nikkei … Read more