Snapshot: The Nikkei 225 plunged 4.15% to 69,361 overnight, driven by a brutal selloff in technology stocks. Persistent concerns over AI infrastructure spending and a sharp drop in SoftBank Group, following reports of OpenAI’s IPO delay, are the primary catalysts. Tokyo’s core inflation accelerating for the first time in eight months only reinforces the Bank of Japan’s hawkish stance.
- Nikkei 225 trading at 69,361, down 4.15% d/d.
- Watch for any follow-through selling in US tech ahead of the NY open, which could exacerbate Nikkei weakness.
Bias into NY: The immediate bias is firmly lower, with the Nikkei 225 facing significant downside risk. Any further pressure on US tech names will likely drag the index lower, potentially testing key support levels below 68,000.