Kospi tumbles over 7%, Nikkei sheds 3,000 points as AI-linked shares drag markets

Asian equity markets witnessed drastic downturns, with Taiwan and South Korea hit the hardest in the trading frenzy. This sell-off arose from growing apprehensions about AI investments, particularly in semiconductors. Wall Street also saw an alarming plunge, wiping out $2.5 trillion in a single day. Consequently, major tech companies faced sharp declines in stock value across regions, as concerns over data centre expansion dampened global investor enthusiasm for technology equities.