Stocks tumble as AI rout deepens, cryptos rebound

Global equities extended losses into a third day on Friday as a selloff on Wall Street intensified, with precious metals and cryptocurrencies gripped by wrenching volatility. MSCI’s broadest index of Asia-Pacific shares outside Japan tumbled 1% to mark a second day of losses, led by a 5% dive for South Korea’s Kospi which triggered a brief trading halt shortly after the open. S&P 500 e-mini futures slid 0.2% and Nasdaq e-mini futures fell 0.4%. “Investors are questioning their commitment to the pillars that have underpinned markets over the past six months: AI, crypto, and precious metals,” said Tony Sycamore, market analyst at IG in Sydney.