KEY POINTS The tech-heavy Nasdaq-100 index approached correction territory, dropping roughly 10% from its June record high. South Korea's Kospi index suffered a rapid bear-market decline driven by the volatility of AI chipmaker stocks. As one of the biggest beneficiaries of corporate AI investment, the semiconductor sector has become the focal point of AI-driven worries from investors. JPMorgan estimates global enterprise spending on AI infrastructure could reach approximately $870 billion by the end of 2026, representing a 77% increase from the previous year. With Microsoft, Meta, and Amazon due to report earnings soon, investors will be looking for signs that the massive AI spending boom is beginning to generate measurable returns.