CNBC - Asia News

Markets are digesting the tech rout on Wall Street with the Nasdaq Composite logging its worst day in three months on renewed doubts over AI spending.

The Swedish automaker cited a deteriorating environment led by "tougher" market conditions in China and the U.S., which "negatively affected free cash flow."

Bankers and lawyers say Chinese clients' demand for U.S. bank accounts has gathered pace as Beijing tightens the screws on Chinese offshore wealth.

Core inflation, which strips out prices of fresh food, was in line with than the 2.1% forecast by economists polled by Reuters.

Nvidia's Jensen Huang told CNBC that a surplus of memory supply is unlikely by 2029, as memory stocks have taken a beating in the past week.