Chip Stocks Slide in US and Asia as AI Jitters Rattle Investors

Major chip firms in the US and Asia saw sharp declines as investors grew wary of massive AI spending. South Korea's Kospi index triggered circuit breakers after falling over 10%, led by drops in Samsung Electronics and SK Hynix. Nvidia lost its title as the world's most valuable company to Apple, which benefited from not participating in the intense data centre race. While European markets remained stable, concerns about future returns and rising competition from China are driving profit-taking.