Asian Markets Tumble Following US Inflation Data and Tech Sell-Off

Asian stock indices fell sharply led by chipmakers and tech shares, with South Korea's market plunging nearly 8%.

A steep wave of selling hit Asian stock exchanges on Thursday morning, following drops on Wall Street triggered by US inflation data. The trend was reported by Brazilian newspaper Folha de S.Paulo and Hungarian financial site Portfolio.hu.

According to the reports, the declines were led by technology stocks and chipmakers, amid investor concerns over potential US interest rate hikes and uncertainty surrounding the future profitability of artificial intelligence firms. South Korea's stock market tumbled by nearly 8%.

Portfolio.hu noted that alongside monetary concerns, geopolitical tensions in the Middle East also weighed on trading, as investors await the release of further US macroeconomic data.