Asian markets tumble after Wall Street sell-off, Kospi drops 8%

Asian stock markets fell sharply Friday following a US sell-off, with technology shares hit hardest. South Korea's Kospi dropped over 8% at the open, triggering a temporary trading halt, while Japan's Nikkei 225 fell about 6%. The declines stem from concerns that newly elected Democratic officials in the US midterm elections could slow or block investments in artificial intelligence infrastructure. Asian tech firms, key suppliers of semiconductors for AI data centers, have benefited from the investment boom that fueled record market highs. US tech giants like Meta, Amazon, and Google have invested heavily in AI data centers, which a Columbia Business School study linked to nearly all recent US GDP growth. Environmental and community concerns made AI spending a major election issue, and the Democratic victory raised fears of regulatory pushback.