Markets waver after Wall St drop, Alibaba soars | Business

HONG KONG, Sept 24, 2025 (BSS/AFP) - Equities were mixed Wednesday following a down day on Wall Street, where worries about high valuations were compounded by mixed messaging from the Federal Reserve on its plans for interest rates. Chinese tech firms stood out, with Alibaba rocketing after its chief executive said the e-commerce giant planned to ramp up spending on artificial intelligence. Investors have enjoyed a months-long rally that has pushed some markets to record highs, but the run-up took a pause Tuesday amid talk that the gains may have gone too far. All three main indexes in New York were dragged down from peaks by US tech titans, including Nvidia and Amazon, which have been at the forefront of...