Asian markets sell off after US inflation fuels rate hike bets
Asian stock markets experienced a significant sell-off, particularly in the technology and semiconductor sectors, following concerns over US inflation and potential interest rate hikes. Major tech firms in Seoul and Tokyo saw sharp declines despite strong earnings reports.
Why it matters
Global market volatility driven by US monetary policy expectations highlights the interconnectedness of international financial markets.
Seoul and Tokyo bore the brunt of the selling as traders bailed out of once-imperious chipmakers.
Currency dealers work in front of an electronic board displaying the Korea Composite Stock Price Index (KOSPI) on Oct 15, 2026. (Photo: Reuters/Kim Hong-Ji)
SINGAPORE: Asian stocks plunged Thursday (Oct 15) as tech firms suffered another painful rout, as a quicker-than-expected increase in US consumer price inflation fuelled expectations the Federal Reserve will have to ramp interest rates higher.
Seoul and Tokyo bore the brunt of the selling as traders bailed out of once-imperious chipmakers, though the selling was heavy across the region, tracking sharp losses on Wall Street.
Seoul's Kospi briefly dived more than 8 per cent - leading to a brief trading halt - before paring the losses with SK hynix sinking more than 11 per cent and Samsung more than 9 per cent.
Also covering this story
One other newsroom covered this event. We read that version too.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in