U.S. Chip Selloff Spreads to Asia as Semiconductor Index Falls 12.2%

A steep U.S. technology selloff spilled into Asian markets Friday, as a 12.2% overnight drop in the Philadelphia Semiconductor Index intensified pressure on global risk appetite.

The Nasdaq Composite slid 5.5% in the preceding Wall Street session, leaving it more than 10% below its recent high and in correction territory. The Philadelphia Semiconductor Index also recorded a 12.2% overnight loss. Together, the figures show sharp declines in both the tech-heavy U.S. market and the semiconductor sector.

Asian trading extended the decline to regional technology shares. South Korea's SK Hynix fell 10.44%, while Samsung Electronics lost 6.35%. SoftBank Group dropped 10.83% in Tokyo. Among the Asian names, SoftBank posted the largest percentage decline, with SK Hynix next and Samsung also lower.

The U.S. session came before Friday's moves in Asia, linking losses across the two regions. The cross-market retreat puts broad risk sentiment in focus for crypto traders.