The volatility in Asian markets marks a sharp reversal from Monday’s optimism, which was bolstered by news of a long-term custom chip deal between Broadcom and Apple. While the S&P 500 and Nasdaq closed higher on that news, futures indicated a retreat of more than 1% ahead of Tuesday’s U.S. opening bell. Analysts point to the extraordinary year-to-date gains—Samsung’s share price had doubled, while SK Hynix’s had more than tripled—as evidence that the current tech bonanza may be fully priced in.
Beyond the semiconductor sector, Microsoft shares remain under pressure following the announcement of 4,800 job cuts within its gaming division, compounding a difficult first half of 2026. Global markets are also navigating geopolitical friction, with the yen hovering near 40-year lows at 162 per dollar and Brent crude climbing toward $73 per barrel after reports of Iranian missile activity in the Strait of Hormuz. In Turkey, the NATO summit in Ankara has shifted focus toward European defense spending, as leaders move to address pressure from President Donald Trump ahead of his scheduled meeting with Ukrainian President Volodymyr Zelenskiy.
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