Asian shares wobble as AI spending fears spark biggest Treasury rally in over three years

A Nasdaq slide tied to AI funding worries sent investors into bonds and pushed traders to scale back Fed rate hike bets Asian shares slipped on Friday after Wall Street’s tech sector took a hard fall overnight. The Nasdaq dropped more than 2% as worries grew about how much money the artificial intelligence boom actually needs. The more dramatic move came in bonds. US Treasuries posted their biggest single-day rally in more than three years, as investors traded growth stories for the comfort of government debt. The trigger was Meta Platforms . The company reported its first cash outflow in more than a decade, and its shares fell about 8%. Money moved quickly toward safety. Sovereign bonds and safe-haven currencies drew heavy demand as traders reduced risk.

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