Market Volatility Shakes Global Economies Amid AI Concerns

A global stock market downturn from Wall Street has impacted Asian markets, causing volatility in metals and cryptocurrencies. Concerns about AI's effect on software firm profits led to declines in major indices and layoff fears. Cryptocurrency and precious metals are attempting to recover from significant losses.

Global stock markets are experiencing significant volatility, as a downturn on Wall Street spreads to Asian indices, leaving investors uneasy. The MSCI All-Country World Index nearly recovered its session losses but remains poised for its worst performance since mid-November.

Amid a massive market rotation, technology and AI-related stocks are underperforming, stirring concerns about future profitability for software firms. The negative sentiment was exacerbated by layoffs reaching a 17-year high in January. In Asian markets, investors seek affordable opportunities amid widespread declines.

Cryptocurrencies and precious metals attempt to regain stability after Thursday's heavy selloff. Bitcoin and ether show signs of recovery, while silver and gold claw back recent losses. As markets react to these fluctuations, focus turns to the potential implications of U.S. monetary policy and the Federal Reserve's upcoming meeting.

(With inputs from agencies.)