International stocks slide as concerns about AI and tech company values spread
HONG KONG — International markets plunged Wednesday as stocks across the Asia-Pacific region sold off on worries about the sky-high valuations of artificial intelligence and tech companies.
The Kospi stock index in South Korea plunged more than 6% at its lowest point. Japan’s Nikkei 225 average slid about 4.5%, and Hong Kong’s Hang Seng index tumbled more than 1%. Stocks in Taiwan also fell around 2.5%.
European markets also opened lower.
The pan-European STOXX 600 dropped as much as 0.7%, while Britain’s FTSE 100 was down 0.2% at its lowest, and Germany’s benchmark stock index took a hit of 0.7%. The markets clawed back some of their losses later.
U.S. stock futures, an indication of where markets will open, showed that losses…
