SoftBank Group shares fall most since going public in 1998

A sell-off in Japan on Monday wiped out $15 billion in value for SoftBank Group Corp., the company’s biggest single-day decline since its founder Masayoshi’s son took the company public in 1998.

The tech giant’s shares fell 19%, extending a 38% decline in the September quarter so far, on track to be its biggest drop since 2001. The decline comes as Son prepares a blitz of investments in AI and semiconductor technologies. The global market sell-off also threatens to hurt SoftBank’s Vision Fund unit, which invests in hundreds of technology startups.