Asian Stocks Lose More Than $1 Trillion as Bitcoin Falls 6%

Asia-Pacific stock markets shed more than $1 trillion in value Friday as a technology-share selloff spread through the region. Bitcoin (BTC) fell about 6% to $75,600, a smaller decline than technology stocks, and stayed above $75,000.

South Korea's KOSPI fell 9% intraday, triggering a circuit breaker. Japan's Nikkei entered a technical bear market. The moves placed steep losses in two major Asian markets alongside the regionwide equity decline.

The selloff followed declines in technology shares after the U.S. midterm elections. Asia-Pacific equities lost more than $1 trillion in a single day, while Bitcoin also fell during the same market snapshot. BTC's roughly 6% drop was less severe than technology stocks' losses, but the asset still traded lower at $75,600.

The figures describe different measures: the stock-market loss is an aggregate dollar value, while Bitcoin's drop is a percentage change. Together, they show that the equity rout and the decline in crypto prices coincided on Friday.