June 08, 2026
Asian stocks plunged on Monday as investors rushed out of the hottest AI-linked shares on fears the bull run has gone too far, too fast and as fresh hostilities in Iran pushed up oil prices.
The twin triggers for a rout that is highlighting a fragile market mood were last week's disappointing outlook at chipmaker Broadcom and a surprisingly strong US jobs report on Friday that has traders pricing a rate hike this year.
Korea's chip-heavy KOSPI, the world's best-performing market this year, led losses in Asia with a 5% slide that has the benchmark down 13% from last week's record high.
Japan's Nikkei fell almost 4% with market darlings across the computer-chip production supply chain falling furthest, while Taiwan's benchmark sank 3.9%.
