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financeWednesday, July 29, 2026

Chip selloff deepens as AI jitters spread

The AI stock rout that started in Seoul is now global. South Korea's Kospi was halted after an 8% drop, and chipmakers from Samsung to SK Hynix are getting hammered. Meanwhile, oil is surging on Middle East strikes, and the BIS warns that AI's debt-fueled boom is muddying inflation signals.

Sources

AI rout goes global

The selloff in AI-related chip stocks that hammered Seoul on Tuesday has spread to US and Asian markets, with the Kospi briefly halted and major tech names taking double-digit hits.

#01www.bbc.comJul 29

Chip stocks slide in US and Asia as AI jitters rattle investors

The BBC frames it as a deepening AI stock rout: chip firms fell sharply in both US and Asia, with South Korea's Kospi temporarily halted after sliding 8% and closing 10.8% lower. Samsung Electronics led the decline.

by yogthos6 min readRead original

#02apnews.comJul 29

South Korea's Kospi share index falls 8%, as investors dump more AI-related stocks | AP News

AP News adds detail: SK Hynix plunged 13% after its quarterly operating profit missed forecasts despite soaring year-over-year. Samsung dropped 8%, and other Asian markets like Japan's Nikkei and Taiwan's Taiex also declined.

3 min readRead original

#03seekingalpha.comJul 29

Wall Street ended mixed as global tech softness weighs and earnings take center stage

Wall Street was mixed, the Dow rose 1% and the S&P 500 gained 0.2%, but tech lagged. The divergence underscores that the AI selloff is hitting growth stocks hardest while value and defensive names hold up.

#04www.cryptobreaking.comJul 29

Trade.xyz Plans to Absorb SK Hynix Perp Liquidation Losses After Price Anomaly

The SK Hynix rout caused a price anomaly on Hyperliquid's perpetual contract; Trade.xyz says it will reimburse eligible liquidation losses. It's a reminder that crypto derivatives tied to volatile equities can amplify pain.

Oil and inflation crosscurrents

As tech slides, oil prices are jumping on fresh Middle East violence and a bullish API report, while the BIS flags that AI's debt-driven spending is distorting central banks' view of inflation.

#05oilprice.comJul 29

Oil Prices Surge on Fresh Middle East Strikes and API Crude Draw

Oil prices surged over 4.5% in early Asian trade, with Brent at $87.95 and WTI at $82.89, driven by renewed Middle East hostilities and a bullish API crude draw. The rebound erased much of Tuesday's selloff.

#06bfsi.economictimes.indiatimes.comJul 29

BIS says AI boom risks clouding central banks' inflation signals

The BIS warns that the AI boom, increasingly financed by debt, is driving up economic activity and equity gains, all of which can add to near-term inflationary pressures and cloud central banks' signals.