The tech-heavy Nikkei 225 declined as much as 4.8%, with chip and AI-related shares slumping more than 13% and among the worst performers.
Japanese equities sank amid indications of Democratic gains in Tuesday’s U.S. midterm elections, a scenario some strategists had said would weigh on artificial intelligence stocks. The tech-heavy Nikkei 225 declined as much as 4.8%, with chip and AI-related shares from memory maker Kioxia Holdings to MLCC maker Taiyo Yuden slumping more than 13% and among the worst performers. The broader Topix index fell as much as 3.5%.
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