Nikkei slips from record high as SoftBank drops and Arm shocks AI and smartphone worries

Arm’s tumble points to smartphone weakness

Japan’s Nikkei retreated from a record high after SoftBank Group fell 4.56%, dragging broader sentiment. The move followed a sharp overnight drop in US-listed Arm Holdings, tied to concerns about weaker smartphone demand and potential AI chip supply constraints. Investors are now watching whether the shock is temporary or signals a wider slowdown in tech spending.