Asian stocks slump as Wall Street tech rally fades
Business
Asian stocks took a hit on Thursday as the recent Wall Street tech rally started to fade.
South Korea's Kospi led the drop, falling 3.71%, while Japan's Nikkei and Topix also slipped.
Investors across the region seemed cautious.
Chip stocks drag S&P 500 lower
On Wall Street, chipmaker stocks dragged down the S&P 500 from its record highs, though NVIDIA managed to stay positive.
SpaceX shares tumbled 14% as a big chunk of stock neared trading eligibility, and both Sandisk and Western Digital sank following their results.
Meanwhile, Brent crude traded at $79.28 a barrel and West Texas Intermediate eased 0.3% to below $75, helped by news of an Iran-Oman shipping deal that could ease global supply jitters.