By https://www.theguardian.com/profile/graemewearden
Publication Date: 2026-06-08 06:09:00
Introduction: Markets affected by Iran crisis and technology sell-off
Good morning and welcome to our ongoing coverage of the economy, financial markets and the global economy.
Stock markets across Asia-Pacific are on the decline today as investors fear a rise in US interest rates, renewed conflict in the Middle East and an end to the AI boom.
The major stock exchanges are all in the red; South Korea KOSPI The index fell almost 9% at one point, causing a brief trading halt, while the Japanese index Nikkei 225 The index is 3.8% lower.
The selloff followed a painful Friday on Wall Street, where the S&P 500 fell by 2.64%.
Friday’s decline was triggered by a surprisingly strong U.S. jobs report, which led many traders to conclude that the next move in U.S. interest rates will be higher, not lower.
Tech stocks have also come under pressure in recent days amid fears the AI race is turning into a battle to see who can raise and spend the most money, as ChatGPT and Anthropic prepare to list on the stock…
