Asian Stocks Plunge as Amazon and U.S. Tech Earnings Fuel AI Spending Concerns

Asian equity markets slumped sharply on Friday, driven by an escalating selloff in technology and semiconductor shares following disappointing quarterly reports from major U.S. tech giants including Amazon, Alphabet, and Intel. Amazon slipped over 4% in extended trading after missing revenue and earnings estimates, while Intel plunged more than 20% on weak guidance, raising fresh doubts about heavy artificial intelligence capital spending. In response, South Korea's KOSPI tumbled over 5% and Japan's Nikkei 225 declined 2.8%, while the Bank of Japan held rates unchanged at 1.25% amid hints of future hikes.