Asian benchmarks extended a global technology-led sell-off, with Japan’s Nikkei 225 and South Korea’s Kospi each falling 6% after losses in U.S. and European markets, The Independent reported.
The S&P 500 dropped 4.36% Thursday, while the Nasdaq 100 lost more than 5.5%, its weakest daily performance since President Donald Trump introduced tariffs in April 2025, the report said. Nvidia fell just over 9%, Tesla declined 10.8%, Micron dropped nearly 17.5% and AMD slid 17.2%.
European AI-related shares added pressure to Germany’s DAX and the Netherlands’ AEX, including shares of ASML and BE Semiconductor, The Independent reported. The Kospi includes SK Hynix and Samsung.
The Independent said investors were weighing how a backlash against data centers and other AI infrastructure could affect demand. It also reported concerns about tighter regulation and whether Democrats would be as receptive to data-center construction as the Trump administration. AJ Bell head of financial analysis Danni Hewson linked chip-share losses to investor doubts about future demand for data centers and other AI infrastructure. EconoTimes has previously covered investor concerns about AI spending after earnings reports.
The Independent cited a Goldman Sachs note that pointed to trading around the U.S. midterm elections as one factor behind the retreat. The note said asset managers returned to stocks after selling ahead of the vote; subsequent price rises led some hedge funds to reduce exposure or take profits. The report also said some U.S. stocks named in its coverage were up 4% in premarket trading, while the Goldman note said the timing of any easing in selling pressure was difficult to assess.
The sell-off extended beyond technology shares. The Independent reported that Brent crude fell as much as 20% during the week amid bets that a politically weakened Trump would be less likely to escalate the war with Iran. eToro market analyst Jakub Rochlitz said lower energy costs could ease inflation pressure and help airlines and consumer-discretionary businesses. He also pointed to housing, real estate investment trusts and utilities as sectors that had risen in recent weeks.
