Asian shares slide as tech sell-off hits markets ahead of US midterm results

Asian shares fell Wednesday and U.S. futures edged lower as markets worldwide awaited U.S. midterm election results, with technology and AI stocks hit by selling and oil prices declining. Japan's Nikkei 225 dropped 3.6%, South Korea's Kospi fell 3.2%, and Hong Kong's Hang Seng declined 0.2%, as chipmakers like SoftBank Group and Kioxia Holdings slumped. Uncertainty over the election outcome weighed on markets, though analysts note the S&P 500 has historically risen in the six months following midterms. A potential Democratic sweep could bring more AI regulations, while a split Congress is generally preferred by Wall Street. Apple fell 1.9% on higher memory chip costs, while Microsoft, Amazon, and Meta rose over 2% on strong AI-related earnings.