Saudi coalition strikes Sanaa oil sites as Houthis target Riyadh and Aramco Attacks on Hormuz shipping reach worst level of the war Kyiv reports no allied warning of missile strike as Russia hits Kharkiv Bulgaria summons Russian envoy after drones sink cargo ship, 11 sailors missing IMF holds 2026 growth at 3.1% but warns resilience is under strain Chip stocks slide on AI spending doubts and Chinese memory claim Netanyahu and Trump reportedly discussed renewed Iran strikes before elections Hurricane Simon and Tropical Storm Rachel kill at least five on Mexico's Pacific coast Trump's Russian diesel deal draws criticism from senators and Europe Congo's Ebola outbreak passes 9,000 cases, the country's deadliest French supermarket fridge hack spreads to more refrigeration makers MI5 chief says Iran now targets UK military sites, confirms Russian Brexit meddling Bond-market stress deepens as France opens 2027 budget debate European gas price hits highest since 2022 as storage runs low Kabila to head new rebel front including M23 in eastern DR Congo Mauritius closes schools and imposes curfew after unrest over police shooting Ethiopian forces reach Eritrean border as Tigrayan rebels retreat Indian police detain 'Cockroach' protest leaders again over election chief's role Indonesian wildfire razes nearly 300 homes as haze blankets Singapore and Malaysia Anthropic warns AI models may soon self-replicate without a data centre French school protests swell as 480,000 march and Thunberg joins Germany detains fourth suspect over Starlink station fire in Poland France seizes second Russian 'shadow fleet' tanker; Moscow calls it piracy Pakistan cracks down on Imran Khan backers after federal takeover of Khyber Pakhtunkhwa Floods swamp Libya's capital Tripoli, including hospital China approves Visa to prepare domestic card clearing business Hungary scraps Orban-era LGBT restrictions as EU releases €4.2bn North Korea tests upgraded ballistic missile component as Trump floats meeting with Kim US and Europe reportedly draft four-point Ukraine plan Google launches Gemini 4 Argon as Meta releases Muse Wonder Israeli forces raid Palestinian NGOs and hospital in occupied West Bank Pope Leo XIV undergoes lung nodule surgery in Rome BMW deliveries fall 6.3% as China sales slump OPEC lowers 2026 oil demand growth forecast again as Brent holds near $106 China sentences three Myanmar-based Wei family crime group members to death More than 100 foreign trekkers stranded by floods in Nepal's Gorkha region White House asks US ambassador to Greece Kimberly Guilfoyle to resign Spain's king affirms sovereignty over Ceuta on first royal visit amid friction with Morocco Russia detains Japanese journalist on suspicion of espionage Rupee rebounds as India tightens currency measures Trump targets Ilhan Omar at rally after raid on her home Panama quake affects more than 6,000 people Goldman Sachs beats estimates as JPMorgan is dented by rates Andersson fails again to form Swedish government Character.ai files for bankruptcy and agrees asset sale to Disney Iguazu Falls closed and walkway dismantled amid record water levels Gaza marks a year of ceasefire with continued Israeli attacks Saudi coalition strikes Sanaa oil sites as Houthis target Riyadh and Aramco Attacks on Hormuz shipping reach worst level of the war Kyiv reports no allied warning of missile strike as Russia hits Kharkiv Bulgaria summons Russian envoy after drones sink cargo ship, 11 sailors missing IMF holds 2026 growth at 3.1% but warns resilience is under strain Chip stocks slide on AI spending doubts and Chinese memory claim Netanyahu and Trump reportedly discussed renewed Iran strikes before elections Hurricane Simon and Tropical Storm Rachel kill at least five on Mexico's Pacific coast Trump's Russian diesel deal draws criticism from senators and Europe Congo's Ebola outbreak passes 9,000 cases, the country's deadliest French supermarket fridge hack spreads to more refrigeration makers MI5 chief says Iran now targets UK military sites, confirms Russian Brexit meddling Bond-market stress deepens as France opens 2027 budget debate European gas price hits highest since 2022 as storage runs low Kabila to head new rebel front including M23 in eastern DR Congo Mauritius closes schools and imposes curfew after unrest over police shooting Ethiopian forces reach Eritrean border as Tigrayan rebels retreat Indian police detain 'Cockroach' protest leaders again over election chief's role Indonesian wildfire razes nearly 300 homes as haze blankets Singapore and Malaysia Anthropic warns AI models may soon self-replicate without a data centre French school protests swell as 480,000 march and Thunberg joins Germany detains fourth suspect over Starlink station fire in Poland France seizes second Russian 'shadow fleet' tanker; Moscow calls it piracy Pakistan cracks down on Imran Khan backers after federal takeover of Khyber Pakhtunkhwa Floods swamp Libya's capital Tripoli, including hospital China approves Visa to prepare domestic card clearing business Hungary scraps Orban-era LGBT restrictions as EU releases €4.2bn North Korea tests upgraded ballistic missile component as Trump floats meeting with Kim US and Europe reportedly draft four-point Ukraine plan Google launches Gemini 4 Argon as Meta releases Muse Wonder Israeli forces raid Palestinian NGOs and hospital in occupied West Bank Pope Leo XIV undergoes lung nodule surgery in Rome BMW deliveries fall 6.3% as China sales slump OPEC lowers 2026 oil demand growth forecast again as Brent holds near $106 China sentences three Myanmar-based Wei family crime group members to death More than 100 foreign trekkers stranded by floods in Nepal's Gorkha region White House asks US ambassador to Greece Kimberly Guilfoyle to resign Spain's king affirms sovereignty over Ceuta on first royal visit amid friction with Morocco Russia detains Japanese journalist on suspicion of espionage Rupee rebounds as India tightens currency measures Trump targets Ilhan Omar at rally after raid on her home Panama quake affects more than 6,000 people Goldman Sachs beats estimates as JPMorgan is dented by rates Andersson fails again to form Swedish government Character.ai files for bankruptcy and agrees asset sale to Disney Iguazu Falls closed and walkway dismantled amid record water levels Gaza marks a year of ceasefire with continued Israeli attacks

Symbolic image: Chip stocks slide on AI spending doubts and Chinese memory claim

Symbolic image

Chip stocks slide on AI spending doubts and Chinese memory claim

8 sources

Memory-chip stocks fell sharply on Tuesday after Chinese chipmaker CXMT claimed a technical advance and Broadcom's chief likened AI investing to a casino. South Korea's KOSPI closed down 5.5%.

Asian stocks fell sharply on Tuesday, 13 October, after a US tech sell-off overnight and rising Middle East tensions, Nikkei Asia reports. Japan's Nikkei index dropped 1.8%, and memory and storage companies lost the most. Bloomberg reports that CXMT claims a memory breakthrough ahead of Samsung and SK Hynix, and the Financial Times ties the slide to the Broadcom boss's "casino" remark. Reuters says US chip stocks extended their slide on the China memory report and AI spending jitters.

AI-linked IPOs put off

Blackstone-backed data-centre operator AirTrunk has delayed its Singapore REIT IPO, Reuters reports, citing sources. Bloomberg, also citing sources, puts the size of the offering at $1.5 billion.

Selloff spreads to other markets

Bloomberg reports that emerging-market stocks, copper and aluminum also fell as the AI selloff reduced risk appetite.