Tech rout intensifies as selloff grips global stocks

Global stock markets experienced a significant downturn on Tuesday, primarily driven by a sharp decline in technology shares following a disappointing trading session on Wall Street. Across Asia, the selloff was evident, with South Korea's tech-focused Kospi index plummeting by 10%. This dramatic drop was largely influenced by major players in the tech sector, including chipmaker SK Hynix and tech titan Samsung, both of which saw their shares tumble by over 12%. In Europe, the trend continued as the pan-European Stoxx 600 index fell by 1.2% during early trading. The Technology sector within the Stoxx 600 bore the brunt of the losses, dropping by 3.2%. Notable declines were seen in chip manufacturer STMicroelectronics and Dutch semiconductor equipment maker ASMI, both of which fell by more than 7%, marking them as some of the largest losers in the index. As the market sentiment turned pessimistic, futures for New York's Nasdaq 100 index—home to tech giants such as Nvidia, Apple, Alphabet, and Microsoft—decreased by 2.7% ahead of the regular trading session. Investors are closely monitoring these developments for further updates as the situation evolves.