Asian Markets Plunge as Tech and AI Shares Sell Off

Asian stock markets plunged Thursday, with South Korea's Kospi down 7.7 percent and Japan's Nikkei falling nearly 5 percent, driven by a global sell-off in tech and AI-related shares. Semiconductor firms were hit hardest, including SK Hynix losing almost 11 percent and Samsung Electronics over 9 percent. Analysts cite institutional investors shifting to safer assets like bonds, following US losses and higher-than-expected September inflation data. The sell-off follows concerns about AI investment returns, with Broadcom's CEO comparing the market to a casino. US inflation at 3.7 percent has raised expectations of another Federal Reserve interest rate hike, while European markets showed initial weakness Thursday.