U.S. Chip Selloff Spreads to Asia as Semiconductor Index Falls 12.2%
Photo: TokenPost
A steep U.S. technology selloff spilled into Asian markets Friday, as a 12.2% overnight drop in the Philadelphia Semiconductor Index intensified pressure on global risk appetite. The Nasdaq Composite slid 5.5% in the preceding Wall Street session, leaving it more than 10% below its recent high and in correction territory. The Philadelphia Semiconductor Index also recorded a 12.2% overnight loss. Together, the figures show sharp declines in both the tech-heavy U.S. market and the semiconductor sector. Asian trading extended the decline to regional technology shares. South Korea's SK Hynix fell 10.44%, while Samsung Electronics lost 6.35%.
Source: TokenPost
