Mounting concerns over the sustainability of the artificial intelligence boom sparked a broad selloff in technology shares, dragging major Asian and US equity indices lower.
South Korea's KOSPI index plunged 6.37 percent, driven by steep declines in SK Hynix, which dropped more than 11 percent, and losses at Samsung. Japan's Nikkei 225 fell 1,915.97 points, or 2.79 percent, while Hong Kong markets bucked the trend, closing more than 1 percent higher. The rout followed a strong run for chipmakers, with the Philadelphia Semiconductor Index up roughly 83 percent year-to-date.
On Wall Street, the S&P 500 closed down 0.51 percent and the Nasdaq Composite shed 1.47 percent, even after Taiwan Semiconductor Manufacturing reported its fifth consecutive quarter of record earnings and guided for current-quarter revenue of $44.6 billion to $45.8 billion. Oil prices rose on Middle East escalation risks, trading near $85 a barrel. Netflix earnings are due after the close.