BUSINESSSEMAFOR
Tech stocks tumble in Asia, US
Tech stocks in Asia and the US fell sharply due to concerns over interest rate hikes, excessive spending, and overvaluation. SanDisk and Micron, which had surged earlier this year, dropped 13% amid a broader Nasdaq decline of 2.2%, while South Korea’s KOSPI index experienced record volatility, plummeting 10% before partially recovering.
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Adjacent reporting
- Hong Kong stocks slump as AI rallies in Asia unwind on US rate-increase anxiety
- AI stocks keep swinging sharply and drag Wall Street with them
- Wall Street drops as AI stocks slide sharply again
- Sharp drops in Big Tech companies pull stocks lower on Wall Street
- European Stocks Slip as Vodafone Plunges, Banks Weigh