Asian stocks slide as chip selloff deepens; Nikkei drops 4.4%
What's new: Brent neared $85 a barrel and was up 12% for the week as Strait of Hormuz shipping slumped, adding to inflation worries.
Asian stocks fell Friday and US equity futures slipped as a deeper selloff in chipmakers rattled investors already questioning whether 2026's AI-driven rally had run too far. MSCI’s Asia-Pacific gauge dropped 2.1%, while Japan’s Nikkei 225 lost 4.4%. Taiwan Semiconductor Manufacturing fell more than 4% even after a solid earnings outlook, as investors focused on higher spending plans. In Tokyo, Kioxia tumbled 15%, cutting its market value in half over the past month. Nasdaq 100 futures fell nearly 1%, and Netflix shares dropped 9% in extended trading after forecasting a second straight quarter of slower sales growth. Oil added to the pressure, with Brent trading just below $85 a barrel as Middle East hostilities escalated and traffic through the Strait of Hormuz slowed.