WORLDTECHAsian tech stocks slump as Wall Street sell-off pushes Nasdaq into correction
Technology shares in Asia fell on Friday after a steep overnight sell-off on Wall Street pushed the tech-heavy Nasdaq Composite into correction territory, CNBC Technology reported.
Regional markets follow Wall Street lower
Technology stocks across Asia came under pressure on Friday, moving in step with the heavy selling that hit US markets overnight.
CNBC Technology tied the regional decline to the Wall Street downturn that had played out hours earlier.
Nasdaq Composite reaches correction zone
The overnight slide left the tech-heavy Nasdaq Composite in correction territory, a threshold that marks a substantial fall from its recent high.
Samsung and TSMC are among the companies whose shares were caught up in the regional sell-off, according to the same report.
Profiles of the companies named
Samsung is an electronics company based in Suwon, founded in 1969. TSMC is a semiconductor company based in Hsinchu Science Park, founded in 1987.
Open questions
- How far will the regional sell-off extend beyond Friday?