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Deep Dive

Why tech stocks are slumping

16 October6 min read
Collage of tech stocks

For years, the market rule has been simple: write " AI " on a napkin, hand it to an investor or lender, then receive a billion dollars.

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  1. 01

    INDONESIA

    You’re out.

    MSCI, a leading financial index provider, has announced it’s considering removing Indonesia’s equity market from ‘emerging’ to ‘standalone’ status, a decision that would oust Indonesia from MSCI global indices. It’s already triggered an 11% single-day drop on Jakarta’s benchmark index, its worst in decades; the index is already down 40% since January. (MSCI)

  2. 02

    DR CONGO

    Police raid abroad.

    Belgian police have raided the properties of several family members of DRC President Félix Tshisekedi, as part of an investigation into alleged money laundering by Tshisekedi himself. (Brussels Times)Comment: Tshisekedi is now facing massive pressure from all sides, whether this law enforcement abroad, or his predecessor’s new rebel armed coalition at home.

  3. 03

    FIJI

    Margin for improvement.

    New Zealand is deploying a six-month team to help Fiji overhaul its security agencies, after the US warned that China-linked hackers had gained access to a Suva-based regional organisation. (Taipei Times)

  4. 04

    UNITED STATES

    No livestream.

    President Trump has called off the planned livestream of the firing squad execution of US Army major and physician Nidal Hasan, who shot dead 13 unarmed service members in 2009. The U-turn comes after widespread criticism, including from 72 retired high-ranking officers. (NPR)

  5. 05

    CHINA

    Bridge at last.

    North Korea and China have finally opened the much-anticipated New Yalu River Bridge after 12 years of delay. It’s their largest land crossing. (BBC)

  6. 06

    EUROPEAN UNION

    Budget tensions.

    European leaders are fighting over the budget, so nature is healing? This time it’s after Ireland (rotating EU president) circulated a compromise draft cutting $180B from the bloc’s seven-year, $2.2T budget. (Politico)

  7. 07

    ISTANBUL

    Deadly rains.

    Istanbul’s heaviest rainfall in 83 years has flooded the city, leaving at least three dead and hundreds more evacuated. (RFI)

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