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Asian AI Stock Sell-Off Drives Capital Into US Treasuries
Asian markets experienced a notable sell-off in artificial intelligence stocks as investors moved capital toward safer assets. The MSCI Asia-Pacific index dropped by 0.4%, while South Korea's Kospi index declined by 0.8% due to concerns over AI infrastructure spending. This shift prompted a flight to U.S. Treasuries, causing the 10-year yield to drop by 17 basis points to approximately 4.96%. The broader market downturn also affected predictions regarding AI firm Anthropic, reducing the market-priced likelihood of its valuation hitting $600 billion by year-end to 3%.