ASX set to slide, AI stock slump hurts Wall Street
AI chipmakers slumped Wednesday, dragging global stock markets lower. The S&P 500 fell 0.5 percent as Nvidia dropped 2.6 percent and other chip stocks tumbled, while the Australian sharemarket is set to slide 0.3 percent at the open. Investors worry AI demand may not sustain recent valuations, offsetting stronger-than-expected earnings from healthcare and semiconductor companies.
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Published 16 Jul 2026, 19:19 UTC · Updated 16 Jul 2026, 19:20 UTC
Summary by OZbrief Editorial. Original report: Brisbane Times. Editorial policy · Corrections