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Asia stocks crumble after AI rout rocks US markets
SINGAPORE: Asia’s tech-heavy markets crumbled on Friday as fear of increased regulatory scrutiny and a slowdown in AI build-out unleashed the steepest decline in US stocks since the tariff-triggered “Liberation Day” rout in April 2025. South Korea’s KOSPI fell more than 8% to trigger a circuit breaker and was last down 7% after trading resumed. Japan’s Nikkei slumped 6% while Taiwan was last down more than 8%. Wall Street’s volatility “fear gauge” soared, the Nasdaq sank 5.5% and $3 trillion was wiped off S&P 500 companies, with investors worried Democrats, who dominated the midterm ele...
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