Asian markets tumble as tech stocks slide on Fed worries
Asian stock markets dropped sharply today, mostly because big tech companies lost value.
Investors are uneasy about AI stocks being overpriced and doubts are growing that the US Federal Reserve will cut interest rates soon.
Even NVIDIA's upbeat earnings couldn't calm the nerves, as new US jobs data added to the uncertainty.
Why does this matter for you?
If you follow tech or invest, this is a wake-up call—Samsung fell nearly 5%, SK hynix over 9%, TSMC about 4%, and SoftBank more than 10%.
Major stock markets across Asia slipped up to 3.2%.
The jitters even hit Bitcoin, which dropped below $93,000, showing investors everywhere are playing it safe right now.
What's behind the sell-off?
US job numbers showed growth but also higher unemployment, making it likely the Fed will keep rates high for now.
With inflation still a worry and Fed officials sounding cautious, many investors are pulling back from risky bets—even after NVIDIA's CEO tried to ease bubble fears.