Asian Markets Crash After US Tech Value Drops $2.3 Trillion

Asian stock markets suffered a severe sell-off on November 6, 2026, following a record $2.3 trillion loss in U.S. tech market value. The rout began after the Federal government of the United States saw Democrats gain control of both houses of Congress in the midterm elections, sparking investor fears of increased regulatory scrutiny and a crackdown on data center infrastructure and the AI industry.

In South Korea, the KOSPI experienced a decline of 8% to 9%, triggering multiple trading halts. Major semiconductor firms Samsung Electronics and SK Hynix saw their stock prices drop by as much as 15%. Japan's Nikkei 225 fell below the 60,000 level, even as national wages data showed a 4.6% increase.

Political instability continued in the U.S. following the elections. Republican Congressman Thomas Massie announced plans to introduce articles of impeachment against Defense Secretary Pete Hegseth over the unpopular war in Iran. Simultaneously, Secretary of State Marco Rubio denied reports that he was considering leaving the Trump administration.