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International markets experienced a sharp decline on Wednesday, driven by concerns over the high valuations of AI and tech companies, with South Korea’s Kospi dropping over 6% and Japan’s Nikkei 225 sliding about 4.5%. European markets also opened lower, and U.S. stock futures indicated continued losses, following a significant selloff in U.S. markets the previous day. Economists noted that Asian economies, particularly Taiwan and South Korea, are heavily reliant on U.S. tech firms, exacerbating the impact of the downturn. The selloff was triggered by warnings of overvaluation and disappointing earnings from key chip manufacturers, highlighting ongoing uncertainties in the AI sector.
