08.06.202602:14:53UTC+00Asian Stocks Fall as Global Tech Rout Deepens

Asian equity markets fell sharply on Monday, led by South Korea’s benchmark KOSPI Index, which tumbled as much as 8.8%. The decline came as investors reacted to a tech-led selloff on Wall Street that hit semiconductor and artificial intelligence-related stocks particularly hard. Sentiment was further dampened by stronger-than-expected US employment data, which bolstered expectations of a Federal Reserve interest-rate hike later this year. That prospect pushed Treasury yields higher and diminished the relative appeal of equities. At the same time, geopolitical tensions escalated after Iran fired several rounds of missiles toward Israel as a warning against further military action in Lebanon, heightening concerns over the stability of an already fragile ceasefire amid stalled peace negotiations. Other major regional markets were also under pressure, with Australia, Japan, China, and Hong Kong recording substantial losses.