Global Markets Swerve on Hawkish Central Banks and Oil Price Volatility

Global markets took a hit ahead of key policy decisions from major central banks. The South Korean Kospi index plummeted by as much as 8.1%, its lowest level since April 20, with memory giants Samsung Electronics and SK Hynix each slumping more than 9%.

In Japan, the chip-heavy Nikkei 225 fell approximately 4%. The Bank of Japan's policy trajectory was under scrutiny following recent hawkish commentary, contributing to a stronger yen that weighed heavily on export-sensitive stocks.

Elsewhere, European equities bucked the trend, with the FTSE 100 up 0.42% and the DAX gaining 1.04%. SAP's 7.9% surge after well-received results led the charge, offsetting some of the broader negative sentiment.