South Korean stocks fall 3.6% as technology selling spreads through Asia
The Kospi closes sharply lower while U.S. investors face Election Day and another earnings-heavy session.
South Korea's Kospi closed down 3.59% at 5,648.79 on Tuesday, extending the pressure on technology-heavy markets after another weak session for U.S. chip stocks. Japanese markets were closed for a holiday.
The Asian losses followed Monday's divergent Wall Street close, when the Nasdaq Composite fell 1.07% while the Dow gained 0.41%. The concern remains whether large investments in artificial intelligence will produce enough earnings to support technology valuations.
U.S. stock-index futures were mixed early Tuesday as investors assessed Apple's holiday-quarter margin forecast and waited for the U.S. midterm elections. Those contracts indicate positioning before the opening bell, not the cash market's eventual direction.
What comes next
The September Job Openings and Labor Turnover Survey is scheduled for 10:00 AM ET. Factory orders are also due at 10:00 AM. AMD is scheduled to report after the close, following Monday's sharp share-price decline. Election results will add another source of uncertainty as voting concludes.
