Mizuho FG plunged as concerns about a slowdown in AI investment and falling long-term interest rates weighed on the market. The decline has spread across bank stocks and affected related issues as well.
Mizuho Financial Group has reportedly plunged, with concerns about a slowdown in AI investment and falling long-term interest rates reinforcing negative sentiment among investors.
Against a backdrop of the Democratic Party gaining the upper hand in the US midterm elections, concerns about regulation of AI and data centers have spread, sending US technology stocks into a broad-based sell-off. Yields on 10-year government bonds in Japan and the US have declined, prompting increased inflows into safe-haven assets.
Bank stocks have also been sold on uncertainty over earnings prospects due to slower AI investment and narrower net interest margins. In addition to Mizuho FG, Sumitomo Mitsui Financial Group, Mitsubishi UFJ Financial Group, Sumitomo Mitsui Trust Group, Yokohama Financial Group, Fukuoka Financial Group and Resona Holdings have fallen sharply.
Hatao (畑尾)