Asian stock markets fell on Friday, July 24, 2026, due to a sell-off in artificial intelligence-related shares, while Brent crude oil topped $100 per barrel. This was reported by Qazaqyia.kz citing Associated Press.
South Korea's KOSPI index fell 2.5%, Japan's Nikkei 225 dropped 3.1%, and Hong Kong's Hang Seng index declined 1.8%. China's Shanghai Composite index fell 1.2%. The decline followed a sell-off in U.S. AI-related shares, where the Nasdaq 100 index fell 2.8%.
Brent crude oil rose to $100.50 per barrel, the highest since 2022. The rise in oil prices was driven by geopolitical tensions in the Middle East and supply disruptions. U.S. light crude (WTI) rose to $96.80 per barrel.
The market decline was also influenced by concerns over new U.S. tariffs. U.S. President Donald Trump proposed a 25% tariff on goods imported from China, which could escalate the trade war. Investors are also worried about a potential interest rate hike by the Federal Reserve.
The sell-off in AI-related shares was led by declines in Nvidia, AMD, and Intel. Nvidia shares fell 4.5%, AMD fell 3.8%, and Intel fell 2.9%. The decline was driven by concerns over overvaluation in the AI sector.
Analysts expect market volatility to continue. "Investors are moving away from risky assets and into safe havens," one analyst said. Gold prices rose to $2,350 per ounce, the highest in a month.