WS #10742
The global tech selloff is escalating sharply, with Asian markets plunging as AI uncertainty jolts tech shares. South Korea's Kospi sank over 8%, triggering a trading halt, and SoftBank shares tumbled 13% on reports that OpenAI may delay its IPO to 2027. Apple suffered its largest decline in 14 months after price hikes, and the Nasdaq fell for a fourth day. The CNN Fear & Greed Index remains in the 'Fear' zone at 25.5. However, a significant counter-signal emerges from the Strait of Hormuz: a fresh attack on a ship has paused evacuation plans, and Bloomberg reports that the oil market is 'complacent' over Hormuz risk. European natural gas edged higher on the risk. This geopolitical tension could support oil prices and energy stocks, partially offsetting the tech-driven selloff. Meanwhile, the US government reportedly asked OpenAI to stagger the release of GPT-5/6, adding regulatory pressure to the AI sector. The dominant narrative is tech selloff (ESCALATING), with the Hormuz tension as a potential energy sector catalyst.
Topics
Key developments
- SoftBank shares plunge 13% as OpenAI reportedly weighs IPO delay to 2027
- Apple suffers largest decline in 14 months after price hikes on iPads and MacBooks
- South Korea's Kospi sinks over 8%, trading halted for 20 minutes
- Fresh attack in Strait of Hormuz pauses vessel evacuation plans; oil market 'complacent'
- US government asks OpenAI to stagger release of GPT-5/6