Kospi tumbles over 7%, Nikkei sheds 3,000 points as AI-linked shares drag markets
Asian equity markets witnessed drastic downturns, with Taiwan and South Korea hit the hardest in the trading frenzy. This sell-off arose from growing apprehensions about AI investments, particularly in semiconductors. Wall Street also saw an alarming plunge, wiping out $2.5 trillion in a single day. Consequently, major tech companies faced sharp declines in stock value across regions, as concerns…
Asian markets experienced a sharp decline on Friday, with Taiwan and South Korea suffering the most significant drops due to investor caution stemming from concerns about AI-linked shares. The sell-off in technology stocks spread throughout the region, causing Asia's two biggest stock indexes to plummet by over 7% each. Japan's Nikkei 225 also saw a decline of over 3,000 points.
The losses extended to Singapore and Hong Kong, with their respective indices also falling. Technology stocks, particularly semiconductor companies, were among the worst-hit, with major players such as SK Hynix, Samsung Electronics, LG Innotek, and LG Display all shedding double-digit percentages. Japanese technology companies including Advantest and Tokyo Electron also suffered sharp declines.
The sell-off was driven by fears that slower infrastructure development in the US could negatively impact AI-related investments, particularly in semiconductor manufacturing and data center operations. Wall Street suffered its worst single-day loss in 18 months, wiping out $2.5 trillion in wealth.
Written by urgent.news from Times of India's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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