# Tech stock crash spreads to Asia: TSMC down 9.6%, SoftBank 11.6%, SK Hynix 8% after Nasdaq's 5.5% fall

Source: Searchable (https://searchable.pk/news/markets/tech-stock-crash-spreads-to-asia-tsmc-down-96percent-softbank-116percent-sk)
Type: News article
Author: Searchable Editorial
Published: 6 Nov 2026
Updated: 6 Nov 2026
Retrieved: 6 Nov 2026

> The Nasdaq closed in correction and the Magnificent Seven lost more than $1 trillion on Thursday, Nvidia alone $440 billion. What it means as the KSE-100 opens at 9:30am PKT.

The AI-led sell-off on Wall Street has spread to Asia. On Friday morning **TSMC fell 9.6%** in Taiwan, **SoftBank Group 11.6%** and **Advantest 12.2%** in Tokyo, and **SK Hynix more than 8%** and **Samsung Electronics 7%** in Seoul, [CNBC reported](https://www.cnbc.com/2026/11/06/tech-stocks-sk-hynix-samsung-softbank.html).

It follows Thursday's rout in New York, the worst day for US stocks since the April 2025 tariff shock.

## Thursday on Wall Street, in numbers

From [CNBC's market wrap](https://www.cnbc.com/2026/11/05/stock-market-selloff-ai-fears.html):

| Index or stock | Thursday |
|---|---|
| Nasdaq Composite | down 5.5%, into correction (more than 10% below its peak) |
| S&P 500 | down about 4.4% |
| Dow Jones | down about 1,833 points (3.4%) |
| S&P 500 tech sector | down 7.3%, worst day since March 2020 |
| Philadelphia Semiconductor Index | down 12.2% |
| Magnificent Seven | more than $1 trillion of market value lost |
| Nvidia | more than $440 billion lost |

Declining shares outnumbered rising ones on the New York Stock Exchange by almost six to one, and Wall Street's fear gauge, the VIX, jumped to its highest since 31 March.

## Why it is happening

Investors fear the Democrats' sweep of the US midterm elections will bring tighter limits on new data centres, slowing the AI building boom that has driven chip and tech shares for three years. Voters passed 44 local ballot measures restricting data centres on election day, CBS News reported, and senior Democrats have called for a national moratorium. Asian chipmakers such as TSMC, SK Hynix and Samsung sell much of their output to that build-out.

"The market's tendency is always to shoot first and ask questions later," Goldman Sachs' Asia Pacific equity strategist Timothy Moe told CNBC.

## What it means in Pakistan

- **KSE-100:** the last reading is **175,379.86**, and trading opens at 9:30am PKT today. Follow it on our [KSE-100 page](/data/kse-100).
- **Bitcoin:** about **$76,050** this morning, near a seven-week low ([bitcoin page](/data/btc-usd), [our story](/news/crypto/bitcoin-falls-6percent-to-dollar75463-a-7-week-low-as-nasdaq-tech-sell-off-wipes)).
- **Gold:** 24-carat is **Rs 422,731 a tola** today, down Rs 1,276 on yesterday ([gold rate](/data/gold-24k-tola)).
- **Oil:** lower oil after the US vote has helped bring petrol down to **Rs 352.59** from today ([petrol price today](/news/economy/petrol-price-in-pakistan-today)).

For anyone holding US shares through a broker, gains and losses are still taxable at home: our [capital gains tax calculator](/tools/tax/capital-gains-tax-calculator) works through the sums. The US October jobs report, due later on Friday, is the next test for markets.

## Frequently asked questions

**Why are tech stocks falling?**

Investors fear Democrats' midterm sweep will lead to curbs on data-centre construction, slowing AI spending. The Nasdaq fell 5.5% on 5 November and Asian chipmakers followed on 6 November.

## Sources

- Nasdaq sell-off batters Asian chip stocks as SK Hynix, Samsung, Softbank, TSMC tumble (6 Nov 2026) (CNBC): https://www.cnbc.com/2026/11/06/tech-stocks-sk-hynix-samsung-softbank.html
- Magnificent 7 loses $1 trillion. The most eye-popping stats from Thursday's tech stock plunge (CNBC): https://www.cnbc.com/2026/11/05/stock-market-selloff-ai-fears.html
- Voters pass 44 ballot measures to restrict data centers on Election Day (CBS News): https://www.cbsnews.com/video/voters-pass-44-ballot-measures-to-restrict-data-centers-on-election-day/

How to cite: "Tech stock crash spreads to Asia: TSMC down 9.6%, SoftBank 11.6%, SK Hynix 8% after Nasdaq's 5.5% fall", Searchable, 6 Nov 2026, https://searchable.pk/news/markets/tech-stock-crash-spreads-to-asia-tsmc-down-96percent-softbank-116percent-sk