Tech stock rout, driven by US AI fears, continues in Asian trading
Summary
Technology stocks fell across Asian markets after a sharp overnight decline on Wall Street. Investors worried that a Democratic victory in the U.S. midterm elections could bring tighter AI regulation and slow data-center construction, while also questioning whether heavy AI infrastructure spending will pay off.Key Facts
- Japan’s Nikkei fell 6 percent, its largest one-day drop since April 2025.
- South Korea’s Kospi and Taiwan’s main index fell more than 8 percent early in trading before recovering some losses.
- South Korean authorities temporarily halted Kospi trading during the slide.
- Taiwan’s index closed down 4.5 percent and fell 12.2 percent for the week, its largest weekly decline since 1991, according to LSEG data.
- The Nasdaq fell 5.5 percent overnight, and the article said the decline wiped $3 trillion off S&P 500 firms.
- Samsung Electronics shares fell nearly 6 percent, SK Hynix fell 9.4 percent, and TSMC closed down 4.7 percent.
- Chinese state entities bought equities to help stabilize the market, according to Al Jazeera’s report.
- Analysts said investor concerns included both possible new data-center regulations and uncertainty about returns on large AI infrastructure investments.
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