Apple’s £300 price increase for AI-driven products triggers a sell-off in tech shares, weighing on major indices worldwide.
Global equities fell sharply as Apple’s decision to raise prices by up to £300 due to AI-related costs sparked a tech sector sell-off. South Korea’s main index plunged 5.8%, while Japan’s Nikkei dropped 4.2%, and Hong Kong and China markets saw heavy losses.
The FTSE 100 and European markets declined around 1%, while the Nasdaq dipped 1.3% in early New York trading. Apple’s shares fell 6.1% after announcing a 25% price hike on MacBook and iPad models, reflecting rising AI infrastructure costs passed to consumers.
Reports of OpenAI potentially delaying its trillion-dollar float added pressure. US markets later recovered some losses, but tech stocks remained under strain as investors assessed the impact of AI investments on profitability.