Asia shares slump as global tech selloff spooks investors, silver tumbles again

A woman walks past an electronic screen displaying the stock index prices of Asian countries outside a brokerage in Tokyo, Japan April 24, 2025. REUTERS/Issei Kato

SYDNEY: Asian stocks slumped on Thursday as concerns about the exploding costs of AI investment encouraged a rotation out of tech, while a renewed slide in silver squeezed leveraged positions that were already under water.

Google parent Alphabet reported solid results on Wednesday, but it was targeting capital expenditure of $175 billion to $185 billion this year, sharply above analysts' estimates. Shares swung wildly - down over 6% at one point -before settling just 0.4% lower after-hours.