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Australia's stock market has plunged to its lowest level since May, following a brutal sell-off on Wall Street. Despite strong earnings from tech giant Nvidia, fears of an overheated AI-driven market bubble triggered a major reversal. Bitcoin crashed, global markets stumbled, and investor confidence took a hit. From mining giants like BHP and Rio Tinto to tech and energy stocks, every sector was in the red. Is this the start of a bigger market correction? Watch now to understand the full story.
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00:00Australia's stock market just tumbled to its lowest point since May, and the reason has global investors on edge.
00:07It all started with Wall Street's shock reversal.
00:09Markets were flying high after NVIDIA's massive earnings report.
00:13But then, everything collapsed.
00:15NVIDIA went from a 5% surge to a 3x2% plunge.
00:19Bitcoin tanked by over $38,000 in a month.
00:23And the fear? We may be watching the burst of a massive AI-driven bubble.
00:27Even after NVIDIA forecasted 65 billion dozen chip sales, investors weren't buying it.
00:33Because now, the question is, can all this AI hype actually deliver profits?
00:38That fear crushed confidence.
00:40Australia's ASX 200 dropped over 100 points.
00:43Every sector bled red.
00:45From banks and miners to real estate and tech, big names like BHP and Rio Tinto fell over 2%.
00:51Uranium stocks? Down nearly 5%.
00:54And energy, gold, and rare earths all took a hit.
00:57Even the Aussie dollar dipped.
00:59As investors worldwide brace for a market reckoning, the AI boom isn't over.
01:04But this could be the first real test of its limits.
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