Global and Asian Shares Slide Amid AI Bubble Concerns Economic Uncertainty

Global and Asian stock markets mostly declined amid profit-taking and concerns over valuation, particularly in tech and AI stocks. China's Shanghai Composite fell 0.41%, influenced by domestic economic recovery uncertainties, while Hong Kong's Hang Seng and Japan's Nikkei also dropped. South Korea's Kospi reversed recent gains, declining 2.4%, pressured by foreign sell-offs and rising consumer prices. Despite strong earnings reports from some companies like Tokyo Electron, overall investor sentiment was cautious due to mixed signals from Federal Reserve officials and worries about a possible market bubble similar to the 2000 dot-com crash. Additionally, China urged the U.S. to respect its core interests to maintain a trade truce. Crude oil prices declined slightly, and the U.S. dollar weakened against the yen as markets adjusted to these mixed economic signals.