World shares were mixed Wednesday following a sell-off in big technology stocks from Asia to Wall Street.
US stock futures were also trading mixed, as global investors monitor market movements including in Japan and South Korea, which have seen big gains in recent months on the global AI boom but both fell sharply on Tuesday.
In early European trading, Britain’s FTSE 100 edged down 0.1% to 10,417.97. Germany’s DAX fell 0.8% to 24,687.18, while France’s CAC 40 was 0.2% higher at 8,355.36.
In Asia, South Korea’s benchmark Kospi index was up 3.3% to 8,471.02, recovering from its 10% decline on Tuesday. Shares of memory chipmaker SK Hynix, one of the country’s most valuable stocks, climbed 1%. Samsung Electronics jumped 9.8%, after Tuesday’s 12.3% plummet.
Tokyo’s Nikkei 225 lost 0.9% to 69,174.97 after falling 3.6% on Tuesday.
Taiwan’s Taiex, which is also heavily influenced by tech shares, fell 2.2%.
Hong Kong’s Hang Seng was 0.3% higher at 23,412.18. The Shanghai Composite index was up 0.1% to 4,110.81. Australia’s S&P/ASX 200 edged up 0.2% to 8,808.40.
The declines in Asian markets, including Japan’s, followed Tuesday’s 1.4% drop for Wall Street’s benchmark S&P 500 index. The technology-heavy Nasdaq composite fell 2.2%, while the Dow Jones Industrial Average ended 0.1% lower.
Big Tech and semiconductor stocks fell in the U.S. On Tuesday, Micron Technology sank 13.2%, while Nvidia lost more than 4.1%.
The big falls in tech shares were an “illustration of rising volatility” in these stocks, said James Reilly, senior markets economist at Capital Economics. “This is particularly true in Korea where domestic retail buyers are taking on an increasing role,” he said.
Oil prices fell early Wednesday, as more ships crossed the Strait of Hormuz while U.S.-Iran talks on a permanent end to the Iran war made progress.
“Price movements suggest the market expects a fairly rapid recovery in Persian Gulf oil supplies,” ING commodities strategists Warren Patterson and Ewa Manthey said in a commentary.
