Emerging-Market Stocks Sink 3.9% as Tech Selloff Hits Asia
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Emerging-Market Stocks Sink 3.9% as Tech Selloff Hits Asia Khac Phu Nguyen Fri, June 26, 2026 at 1:46 PM EDT 1 min read AAPL 005930.KS 000660.KS This article first appeared on GuruFocus . Emerging-market stocks were hit by a sharp tech-led selloff on Friday, as investors pulled back from one of the market's hottest trades. An MSCI gauge of developing-nation equities fell as much as 3.9%, marking its biggest drop since June 8. South Korea took the heaviest blow, with Samsung Electronics and SK Hynix each sliding more than 10% at one point, dragging the Kospi down as much as 9% and triggering a 20-minute trading halt. Warning! GuruFocus has detected 5 Warning Sign with LLY. Is AAPL fairly valued? Test your thesis with our free DCF calculator. The pressure intensified after Apple ( NASDAQ:AAPL ) raised product prices due to a memory chip shortage, giving investors a fresh reason to question demand and margin risks across the AI supply chain. The move acted as a reality check for a market that has been pricing in aggressive AI growth, while a report that OpenAI may delay its initial public offering until next year added more caution around the broader AI trade. For investors, the message is becoming more selective. The AI story may not be falling apart, but gains for chipmakers could possibly come at the expense of product manufacturers. Emerging-Asian currencies were mixed as the dollar stayed near a seven-month high, supported by hawkish Federal Reserve expectations and uncertainty around efforts to restore traffic through the Strait of Hormuz. OCBC strategists said the latest US personal consumption expenditures price index should keep hawkish Fed risks in play, with each inflation, labor and growth release likely carrying more weight and possibly increasing FX volatility.
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