Asian Markets Struggle Amid AI Investment Concerns

Asian stock markets experienced a downturn on Thursday, primarily affecting the technology sector due to rising concerns over the costs associated with artificial intelligence investments. According to Jin10, investors are increasingly worried about the potential impact of AI on employment, prompting a shift in funds from major tech companies to cyclical stocks. The latest sell-off, triggered by a new legal tool from Anthropic's Claude model, has resulted in a market value loss of approximately $830 billion in the tech sector since January 28. Market participants are closely monitoring Amazon's earnings report, expected later today, along with policy meetings from the Bank of England and the European Central Bank, both anticipated to maintain current interest rates. In the currency market, the Japanese yen weakened for the fourth consecutive day following a Sunday election poll indicating Prime Minister Sanae Takaichi's potential decisive victory. Her expansionary fiscal policies have raised concerns about national fiscal strain.