Chip stocks slide again on doubts over AI spending
Reuters reported US chip stocks extending their slide on Tuesday on a China memory report and jitters over AI spending. AP reported South Korea’s Kospi falling more than 5% on a semiconductor sell-off tied to AI-boom worries, and Bloomberg reported memory-chip stocks tumbling and Asian chipmakers falling on a breakthrough by China’s CXMT. On Wednesday Reuters said Asian shares edged up as the chip sell-off eased, with US CPI awaited. In Reuters reports from its annual meetings, the IMF flagged a possible AI market correction, war and debt among the risks to the global economy. Tuesday’s US index closes could not be confirmed in two sources.
AI spending has been a big driver of recent market gains, so a sharp fall in chip shares spreads quickly to other markets.
Many pension and savings funds hold the same global technology shares, and the Irish economy depends on multinational tech and pharma firms. A prolonged fall could affect tax receipts, though none is reported.
Treat one day’s slide as a warning, not a verdict. The US CPI figures that markets are awaiting may set the mood.
DailyDrop Ireland edition No. 10 · Morning · WED., OCT. 14, 2026