Business · Energy & Commodities · 1 hr ago
Asian stocks fall as US chip selloff deepens
Asian shares fell after US chip stocks extended a three-day selloff.
The MSCI Asia Pacific gauge dropped 0.4%, and South Korea’s Kospi fell almost 3%; Japan’s market was closed for a holiday.
In the United States, the Nasdaq 100 had dropped 10% from its peak, putting it in a technical correction.
The chip selloff continued despite a steep fall in oil prices as traders saw signs of progress toward ending the war in Iran.
Investors remain concerned about AI spending and high technology-share valuations, limiting interest in buying those stocks.
US stock futures rose, suggesting some investors may be looking to buy after prices fell.
China’s central bank said it would encourage financial institutions to use tools to support stocks, but analysts said the measures may steady the market rather than start a lasting rally.
Asian stocks fell after a deepening selloff in US chipmakers weighed on technology shares.
The MSCI Asia Pacific gauge dropped 0.4%, while South Korea’s Kospi fell almost 3%.
A US gauge of chipmakers extended a three-day decline to 12%, and the Nasdaq 100 fell 10% from its peak, entering a technical correction.
US stock futures gained as some investors looked to buy on dips, while Japan’s markets were closed for a holiday.
Copper and tin also fell as the technology selloff weakened the outlook for materials demand.
- Who
- Asian investors and markets, including South Korea’s Kospi, were affected.
- What
- Asian stocks fell as a selloff in US chipmakers deepened. Copper and tin also declined.
- When
- November 3, 2026.
- Where
- Asian markets and US technology markets.
- Why
- The US chip selloff weighed on technology shares and weakened the demand outlook for materials used in data centers and circuit boards.
This story does not have two clearly opposing sides.
A US gauge of chipmakers extended its rout to 12%.
Asian stocks opened lower, with the MSCI Asia Pacific gauge down 0.4% and South Korea’s Kospi sliding almost 3%.
Copper and tin fell as the technology selloff weakened the demand outlook for industrial materials.
- MSCI Asia Pacific gauge
- Down 0.4%
- South Korea’s Kospi
- Down almost 3%
- US chipmaker gauge
- Down 12% over three days
- Nasdaq 100
- Down 10% from its peak; entered a technical correction
- Japan
- Markets closed for a holiday
2 sources
What people are saying
Lower oil should be a tailwind for tech, but the fact that stocks could not hold the open even with crude plunging shows how little conviction is left even after last week’s carnage