{
  "id": 1952813,
  "title": "Tech leads losses as Asian stocks track Wall St selloff",
  "url": "https://urgent.news/2026/08/18/tech-leads-losses-as-asian-stocks-track-wall-st-selloff",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-18T21:00:00.000Z",
  "source": {
    "name": "Gulf Times Business",
    "slug": "gulf-times-business",
    "url": "https://www.gulf-times.com/article/731420/business/tech-leads-losses-as-asian-stocks-track-wall-st-selloff"
  },
  "original_language": "en",
  "account": "Technology stocks experienced a significant decline on Wednesday, as investors grappled with rising bond yields, soaring oil prices, persistent inflation, and dwindling hopes for a resolution to the Strait of Hormuz standoff. In Tokyo, the Nikkei 225 closed down 3.2%, while Hong Kong's Hang Seng Index slipped by 0.1%. Shanghai's Composite Index also fell 2.4%.\n\nThe selloff mirrored losses on Wall Street, where companies heavily involved in artificial intelligence and semiconductor production suffered substantial declines. This followed a recent recovery that had been ongoing for several weeks. Middle East tensions, with no apparent progress towards an agreement, have led to a surge in crude prices, exacerbating inflation expectations and driving up borrowing costs for US government debt. The yield on 30-year US Treasuries reached its highest level since June 2007, and 10-year yields surpassed pre-February 2020 levels.\n\nAI-linked stocks with elevated borrowing levels exhibited heightened sensitivity to the rising long-term interest rates. Major tech and chip companies, such as Nvidia, Intel, Micron, and Broadcom, faced heavy losses, impacting the Nasdaq and S&P 500. In Asia, SK hynix, a prominent chip manufacturer, saw a 9.8% drop, while Samsung's shares fell nearly 8%. The company subsequently announced a $29 billion share buyback to alleviate investor concerns.\n\nFollowing the market's close, SK hynix revealed its share repurchase plan. Tokyo's Nikkei 225 dipped more than 3%, and Kioxia experienced a 12.6% decline, while SoftBank fell over 10%. Shanghai's Composite Index also faced sharp declines, affecting various markets, including London, Paris, Frankfurt, Taipei, Sydney, Singapore, Manila, Mumbai, Bangkok, and Jakarta.\n\nHong Kong, however, saw a slight rise in its Hang Seng Index. London remained flat as UK inflation data indicated a rise due to increasing oil prices. Paris edged up, while Frankfurt experienced a minor decline.\n\nAnalysts warned that the prospect of a prolonged spike in crude prices could create more inflationary pressure, prompting the Federal Reserve to raise interest rates. The Federal Open Market Committee's upcoming meeting in Jackson Hole, Wyoming, is expected to provide insights into the Fed's potential policy decisions, with Fed Chief Kevin Warsh's speech garnering significant attention. Additionally, minutes from the bank's latest policy meeting, released later on Wednesday, may shed light on decision-makers' perspectives.",
  "summary": "Technology stocks were back in the crosshairs of investors on Wednesday, taking another heavy blow from a spike in bond yields, rising oil prices, persistent inflation and dimming hopes for a deal to ...",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}