This stock sell-off in Asia mirrored the trend seen on Wall Street. Here, shares of companies heavily investing in artificial intelligence and chip manufacturing sharply declined after a recovery over the past few weeks, which followed a disastrous July.
Since there are no signs that the Middle East crisis is nearing an end, as US and Iranian officials have taken firm positions and appear prepared for a prolonged conflict, oil prices are rising again. Rising oil prices have strengthened inflation expectations and significantly increased US government bond yields.
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