Global Markets Plunge Amid Rising Rates and Inflation Fears

Asian stocks fell on Thursday, led by steep declines in the technology sector, amid fears of persistent inflation and high interest rates. The tech-heavy indexes in Japan, Hong Kong, and South Korea dropped significantly as investors locked in recent profits from the AI-driven rally. Major chipmaking stocks like Japan's Advantest Corp. and South Korea's SK Hynix Inc. saw notable declines. Chinese stocks fell less due to promises of more policy support from the People's Bank of China. Broader Asian markets retreated in anticipation of key U.S. economic data and interest rate cues.