The declines followed high US consumer price index data, which intensified concerns that the Federal Reserve will implement further interest rate hikes. Hardware and AI-related stocks bore the brunt of the volatility, as investors weighed the costs of financing AI infrastructure and future group earnings. SK Hynix plunged over 10%, Samsung Electronics fell 7.1%, and SoftBank Group tumbled 7.9%.
Tuesday, October 20, 2026
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Asian Markets Wipe Out $900B on Fed Rate Fears
Global Markets6 days ago
The KOSPI in South Korea dropped 8% and the Nikkei in Japan fell 5% on Thursday, leading a wide-scale retreat in regional equities. This selloff erased more than $900 billion in total market value, with South Korean stocks losing ₩406.7 trillion ($271B) and Japanese shares falling by ¥58.9 trillion ($375B). The downturn also hit the Shanghai Stock Exchange, which declined 1.98% to lose $200B, and Taiwan’s market, which fell 1.5% for a loss of $54B.
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