Index of US semiconductor stocks on track for its worst week since last year’s ‘liberation day’ rout

Tokyo and Taipei led losses on a glum day for Asian markets Friday, with tech firms once again in the crosshairs as investors cash in following this year's breathtaking rally.

Asian shares have skidded, with Tokyo’s Nikkei 225 down 5% as heavy selling of computer chipmakers and other AI-related shares drag markets lower.