Why markets reversed overnight and what investors should watch next

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? --- Send us your questions, thoughts, story ideas, and feedback to [email protected]. --- Written and hosted by: Emily Liu ([email protected]) 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 --- Follow Market Focus Weekly podcasts every Friday: Channel: bt.sg/btmktfocus Amazon: bt.sg/mfam Apple Podcasts: bt.sg/mfap Spotify: bt.sg/mfsp YouTube Music: bt.sg/mfyt Website: bt.sg/mktfocus Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party’s products and services. Please consult professional advisors for independent advice.  Discover more BT podcast series: BT Money Hacks at: bt.sg/btmoneyhacks BT Correspondents at: bt.sg/btcobt BT Podcasts at: bt.sg/podcasts BT Lens On: bt.sg/btlensonSee omnystudio.com/listener for privacy information.