Asian stocks tumble as tech sell-off knocks Kospi down more than 6%
What's next: Micron results on Wednesday will test whether AI spending can keep driving the chip rally across Asia.
Asian stocks fell sharply Tuesday as investors pulled back from high-flying technology shares after a slide in US megacaps. MSCI’s regional equity gauge dropped more than 2% after finishing at a record high a day earlier, while South Korea’s Kospi sank more than 6% as concern grew that gains in heavyweight chip stocks had run too far. A regional tech index ended an eight-session winning streak. S&P 500 futures fell 0.6% and Nasdaq 100 contracts lost 1.1%. The retreat came as markets also watched progress in US-Iran peace talks. Attention is now turning to Micron Technology’s earnings on Wednesday, with investors looking for evidence that AI infrastructure spending can still support the broader rally in chip shares.