Asian markets plunge; broad equity selloff follows tech turmoil in US
Asian stock markets traded sharply lower on Friday as a tech-led selloff spread across risk assets following worries over potential regulatory changes in the US.Japan’s Nikkei 225 fell 5.90% to 57,478 level, with the Japanese yen traded around 157.8 per dollar. South Korea’s benchmark KOSPI fell 4.88% to around 5,120.51. Meanwhile, Hong Kong’s Hang Seng Index () fell 1.12%, to around 24,517.50, and mainland China’s Shanghai Composite () fell 0.99% to 3,653.41, while the Shenzhen Component fell 2.37% to 11,200.71. Australia’s S&P/ASX 200 () fell 0.49%, to 9,020.80. The Australian dollar fell below $0.70, hitting a three-week low.In Japan, average cash earnings increased 4.6% Y/Y in September 2026, accelerating from 3.9% in August to mark the fastest growth since January 1997.In commodities and crypto markets, gold slipped below $4,050 an ounce but remained on track for a >4% weekly gain, while Bitcoin fell below $76,600 to hit an eight-week low as risk aversion mounted.US stocks on Thursday, wiping out the previous session’s gains, as a sharp sell-off in technology stocks weighed heavily on the broader market.US stock futures edged higher on Friday in a technical rebound following the sharpest selloff since April 2025, driven by fears of tighter Democratic oversight on AI.Content provided by Seeking Alpha is intended for information purposes only, and that Seeking Alpha does not offer any personalist investment advice and is not a licensed securities dealer, broker, US investment adviser or investment bank.