Tumble

• Indian stock markets, including the Sensex and Nifty, fell in early trade due to rising tensions in West Asia and foreign fund outflows. • Crude oil prices climbed close to $100 per barrel, while investors sold off shares in the information technology sector. • High geopolitical risk premiums in oil prices are expected to keep volatility high across global financial markets.

• Benchmark indices traded lower following weak global cues, with IT shares experiencing a significant tumble after previous gains. • The decline follows mixed US economic data, specifically the ISM Manufacturing PMI, which slowed to 54.6 in August from 55.6 in July. • Key indicators showed a downturn in US industrial health, with the New Orders Index dropping to 53.7 and the Employment Index falling to 51.2.

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• Global equity futures tumbled as long-term bond yields reached multi-year highs, driven by persistent inflation pressures. • Oil prices surged following an escalation in tensions involving Iran, adding further volatility to global energy markets. • Analysts highlight the hawkish stance taken by Kevin Warsh during last week's Jackson Hole symposium as a primary catalyst for expected yield increases.

• Asian AI and semiconductor stocks experienced a sharp decline as rising yields sparked renewed concerns over company valuations. • Major South Korean indices were hit hard, with the KOSPI plunging 5.2%, while Samsung Electronics fell 7.5% and SK Hynix Inc dropped 10%. • Hong Kong-listed firms also suffered significant losses, including a 6% decline for SMIC and a nearly 13% tumble for Hua Hong Semiconductor.

• South Korea's KOSPI index plunged 4.58% following a massive selloff in semiconductor stocks, specifically impacting industry giants Samsung and SK Hynix. • The severity of the decline triggered a trading halt to stabilize the market, reflecting significant volatility within Korean equities in 2026. • Frank Benzimra of Societe Generale noted that these steep declines often occur in sectors where investors utilize the highest levels of leverage.

• Asian equities declined on Thursday, August 6, as the recent technology-driven rally on Wall Street lost momentum. • South Korea's Kospi experienced the sharpest drop, tumbling 3.71%, while Japan's Nikkei fell 1.68% and the MSCI Asia Pacific Index slipped 0.2%. • The downturn signals a shift toward regional caution, with Hang Seng futures also pointing 0.9% lower.