Asian stocks plunge as tech sell-off deepens; South Korea's Kospi drops 7.7%

Asian stocks fell sharply Thursday as a deepening technology sell-off spread across the region, with South Korea's Kospi losing 7.7% and Japan's Nikkei 225 tumbling 4.8% ahead of Europe's market open. The declines followed Wall Street losses after US inflation data came in hotter than expected, with the consumer price index rising 3.7% year-on-year in September. Major chipmakers plunged, including Samsung Electronics down 9.5% and SK Hynix down 11.4%, while US equity futures also traded lower. The sell-off marks a sharp reversal from June's record highs driven by artificial intelligence optimism, with Taiwan's Taiex falling 3% and Hong Kong's Hang Seng dropping 1%. Nvidia, Broadcom, and AMD all declined on Wednesday as investors reassessed AI-related valuations.