The Nikkei Stock Average continued to fall day after day, closing as low as ¥63,492.99. As selling spread across AI-related stocks, the postponement of an IPO by a U.S. AI company and remarks by its CEO affected market sentiment.
The Nikkei Stock Average fell for the 14th consecutive trading session, closing ¥518.35 lower than the previous day at ¥63,492.99. It declined by approximately ¥1,700 over two trading days, falling below ¥64,000 on a closing-price basis.
Declines in AI-related stocks pushed down the market, while selling intensified amid growing speculation that AI development could be losing momentum. In particular, there was a view that the impact of AI-related stocks would significantly widen the Nikkei Stock Average's decline.
Financial journalist Morioka Hideki (森岡英樹) said that AI-related stocks have large market capitalizations and that declines in those stocks would widen the Nikkei Stock Average's fall. He also pointed out that AI-related stocks, which had reached ¥72,831 in June, had fallen by ¥9,300 in less than three months.