Asian Stocks Plummet Amid AI Fears and Oil Price Surge

Asian stocks took a hit on Wednesday as investors continued to pull back from the market after Wall Street's all-time high. The South Korean Kospi led the decline, dropping 5.7% to 6,487.34.

Samsung Electronics and SK Hynix, two of Korea's biggest tech companies, shed 7.5% and 8.8%, respectively, following their US rivals' declines in AI-related stocks.

The Nikkei 225 in Tokyo sank 3.2% to 65,332.04 due to concerns over rising bond yields and selling of tech shares.