Asian Stocks Plunge as Tech Retreats Amid AI Valuation Concerns

• Asian markets opened lower, mirroring US losses, as traders pulled back from the tech sector.
• Concerns over the lofty valuations and ambitious spending in the AI boom are driving investor unease.
• Nasdaq 100 fell 1.9%, S&P 500 slid 1.2%, and Nvidia Corp. dropped 3.8% to a September low.
• Risk-off sentiment boosted shorter-maturity Treasuries, gold, and silver, while Bitcoin also declined.
• Upcoming US inflation data and a potential Bank of Japan rate hike add to market volatility.

Why It Matters: Global markets face risk-off sentiment as tech valuations are questioned, impacting Asian stocks.