Markets woke up on the wrong side of the bed this week, with the S&P 500 staging its sharpest intraday reversal since April and Asia promptly following suit. What’s driving the unease — overheated AI valuations, Nvidia’s much-watched outlook, or deeper worries of a looming correction?

Franklin Templeton’s Dina Ting joins Emily Liu to break down the confusion in US markets, Japan’s massive and controversial new spending plan, and the sudden crypto slide making headlines as the “Great Crypto Crash of 2025.”

Highlights:

01:30 AI valuation fears

04:26 Overconcentration in AI and the US

08:11 Is a market correction brewing?

11:47 Japan’s new big budget plan

13:21 Bank of Japan’s next move

15:32 Is crypto crashing out?

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Send us your questions, thoughts, story ideas, and feedback to btpodcasts@sph.com.sg.

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Written and hosted by: Emily Liu (emilyliu@sph.com.sg)

With Dina Ting, head of Global Index Portfolio Management, Franklin Templeton

Edited by: Chai Pei Chieh & Claressa Monteiro

Produced by: Emily Liu & Chai Pei Chieh

A podcast by BT Podcasts, The Business Times, SPH Media

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Why markets reversed overnight and what investors should watch next

BT Market Focus

Why markets reversed overnight and what investors should watch next