Tokyo's Nikkei Index is down 2190 points (3.23%) While Seoul's KOSPI is down another 5% in early trade.
From Bloomberg, October 14/15
A selloff in equities spread to Asia after chip stocks tumbled on Wall Street, as hotter-than-expected US inflation fueled bets on more aggressive Federal Reserve rate hikes. Treasuries rallied.
MSCI Inc.’s Asia Pacific equities gauge dropped 1.5%, heading for a fourth straight decline, led by losses in South Korea, a bellwether for artificial intelligence investment. The Kospi Index slumped as much as 6.5% to its lowest since late July, with chip heavyweights Samsung Electronics Co. and SK Hynix Inc. tumbling at least 7%.
Tech sentiment remained weak, with Nasdaq 100 Index futures falling as much as 1%. Earlier, the Russell 2000 entered a correction and a closely watched gauge of US semiconductor stocks had its longest losing streak since May 2025. CoreWeave Inc. shares plunged as much as 17%. Its debt due in 2032, which investors bought at par four months ago, traded at less than 78 cents on the dollar.
The fastest US inflation in five months prompted traders to ramp up bets on further Fed tightening, raising the prospect of additional rate hikes, even if policymakers pause in October. While Treasuries initially sank after the data was announced, they recovered most of the losses on appetite for bond yields near multiyear highs....
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