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Asian Stocks Open Lower as AI Spending Doubts Spark Wall Street Sell-Off
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CNBC TV18•09-10-2026, 06:50
Asian Stocks Open Lower as AI Spending Doubts Spark Wall Street Sell-Off
- •Asian equities opened lower following a Wall Street sell-off driven by growing doubts over the sustainability of artificial intelligence spending.
- •The MSCI Asia Pacific index slipped 0.1% while Japan's Nikkei dropped over 1% at the open before paring losses.
- •Markets in South Korea and Taiwan were closed for holidays, observing Hangul Day and national day respectively.
- •A Financial Times report revealing that OpenAI's annualized revenue fell short of previous projections triggered the tech sector slide.
- •The US Labor Department suspended major tech companies including Microsoft and Adobe from its PERM labor certification program.
Key Questions Answered
Asian equities opened lower after a Wall Street sell-off driven by fresh doubts over the sustainability of the artificial intelligence spending boom, following a Financial Times report concerning OpenAI's revenue.
The US Labor Department suspended Microsoft and Adobe from its Permanent Labor Certification Program due to active federal investigations, and announced it would not accept or process new applications from firms like Cognizant, Infosys, Capgemini, Wipro, TCS, and HCLTech.
South Korea's Kospi was closed for Hangul Day, which marks the creation of the Korean alphabet, while Taiwan was closed to observe its national day.
