US midterms send Asian markets tumbling, KOSPI halts trading
Big moves in US politics are making waves across Asia's stock markets.
After the US midterm election results, South Korea's KOSPI dropped more than 8%, enough to pause trading for a bit.
Japan's Nikkei and Taiwan's benchmark index also took a hit, Japan's Nikkei tumbled 6% and Taiwan's benchmark index fell more than 8% as investors rushed to sell tech stocks following Wall Street's rough day.
Nasdaq down 5.5%, semiconductors plunge 12.2%
Wall Street saw major drops too, with the Nasdaq down 5.5% and semiconductor stocks plunging 12.2%.
The shakeup comes from fears that new political leadership could mean tougher rules for tech companies and less spending on artificial intelligence (AI).
That's especially tough news for Asian chipmakers like Samsung, TSMC, and SK Hynix, who rely on US clients, and now face questions about future demand.