Netweb Technologies shares fall up to 6% in global AI selloff

Indian AI stocks including shares of Netweb Technologies tumbled up to 6% on October 15 as a global selloff in the semiconductor space spilled over into the country. The decline was triggered by higher US inflation and interest rates, and concern over the need for more funding and power to run AI infrastructure.

South Korea’s benchmark falls nearly 8% as trading stops for 20 minutes

South Korea’s equity benchmark fell nearly 8% and entered bear-market territory, according to South Korean market data.

South Korea’s stock exchange halted trading for 20 minutes as selling deepened, stock exchange data showed.

SK Hynix and Samsung Electronics each fell more than 9%, according to South Korean market data.

Japan’s Nikkei 225 dropped nearly 5%, with semiconductor-related shares including Ibiden and Kioxia Holdings among the weakest performers, Japanese market data showed.

Netweb Technologies and E2E Networks trade lower with other Indian AI-related stocks

E2E Networks and ESDS Software were trading up to 6% lower on October 15, according to market data for the session. Netweb Technologies share price was also among the Indian AI-related stocks affected during the decline.

MTAR Tech, Anant Raj and Black Box were trading between 3% and 5% lower, the October 15 market data showed.

Hitachi Energy India, GE Vernova T&D India and CG Power and Industrial Solutions fell between 4% and 5% among the power equipment stocks covered in the session.

September core inflation rises to 2.6% as rate-hike pricing increases

US inflation data for September revealed the steepest rise in consumer prices for five months.

The core inflation rate, which excludes food and energy, increased in September to 2.6% year over year from 2.4% year over year in August. The monthly change was 0.3%.

The probability of a rate hike at the Fed’s December meeting is 66% as measured by the CME FedWatch tool, according to market pricing on Wednesday.

Market commentary on October 15 posed the question: Will billions of investors’ money put into AI generate similar returns?

AI energy-use concerns coincide with falls in CoreWeave and Oracle

The Kospi was about 21% below its September high, according to South Korean market data.

Concerns over the high energy consumption of artificial intelligence infrastructure coincided with CoreWeave shares falling more than 15%, according to US market data. Oracle shares fell more than 8% in the same data.

SanDisk and Advanced Micro Devices each fell more than 5%, according to US market data.

Micron Technology shares fell 4% and Nvidia shares fell 3% in the US session.