Asian markets slide as hot US CPI data drags AI stocks lower

A stronger-than-expected September inflation print revived Fed rate-hike fears and hit AI names from New York to Tokyo Asian markets moved lower after a hotter-than-expected US inflation report pushed up expectations for Federal Reserve rate hikes. The selloff landed hardest on the AI trade, which had already been carrying a lot of optimism on its back. The trigger was the September 2026 consumer price index. Headline inflation hit 3.7% year-over-year, and investors spent the following session repricing just about everything with “AI” in the pitch deck. Economists had expected the headline CPI figure to land at 3.6%.

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