Nikkei Plunges 3, 318 Points as AI Selloff Shakes Tokyo

TOKYO - Tokyo stocks suffered one of their steepest declines on October 15, with the Nikkei 225 plunging 3,318 points, or 4.90%, to close at 64,426, its third-largest point decline on record, as a global selloff in artificial intelligence and semiconductor shares intensified over concerns about rising U.S. interest rates and the financial sustainability of debt-funded AI investment. The broader TOPIX fell 97.44 points, or 2.38%, to 3,999.34, closing below 4,000 for the first time in about two months. The Nikkei declined for a sixth consecutive session, having lost more than 6,000 points since reaching 70,684 on October 6. Selling began immediately after the opening bell and accelerated as investors reduced exposure to high-priced semiconductor and AI-related companies. The Nikkei fell more than 3,600 points at one stage, touching 64,093 before recovering slightly into the close. Trading was exceptionally heavy. Turnover on the Tokyo Stock Exchange's Prime Market reached approximately 10.14 trillion yen, with volume of 3.03 billion shares. Declining stocks numbered 948, compared with 564 gainers and 40 unchanged, reflecting widespread selling beyond the technology sector. The central concern was a sharp reassessment of the financial risks underlying the global AI investment…