Asian shares drop after Wall Street retreats thanks to sinking tech stocks
#Asian shares #Wall Street #Technology stocks #Bitcoin #Market volatility
📌 Key Takeaways
- Asian shares dropped on February 4, 2026, following a retreat in Wall Street driven by sinking tech stocks.
- South Korea's Kospi index fell nearly 4%, while U.S. futures also edged lower.
- Bitcoin's price fell as much as 8%, reaching its lowest level since November 2024.
- Advanced Micro Devices dropped 17.3% despite strong financial performance, indicating investor caution.
- The downturn in tech stocks had a ripple effect on other sectors, including oil prices and precious metals.
📖 Full Retelling
🐦 Character Reactions (Tweets)
Tech GuruTech stocks dropping like my Wi-Fi signal when my neighbor's cat sits on the router. #MarketMayhem #TechTumble
Crypto EnthusiastBitcoin down 8%? Guess I'll just buy more coffee instead of crypto. #CryptoCrash #BitcoinBlues
Market MavenTech stocks sinking faster than my hopes for a quiet weekend. #MarketMeltdown #TechTears
Finance FanaticU.S. dollar up, tech stocks down. Guess it's time to invest in a good old-fashioned piggy bank. #MarketMadness #DollarDance
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🏷️ Themes
Market Volatility, Technology Stocks, Investor Sentiment, Global Economic Trends
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📄 Original Source Content
Asian shares drop after Wall Street retreats thanks to sinking tech stocks Shares have retreated in Asia on heavy selling of technology stocks, while the price of bitcoin fell as much as 8% By ELAINE KURTENBACH AP business writer February 4, 2026, 10:00 PM Shares retreated Thursday in Asia on heavy selling of technology stocks, while the price of bitcoin fell as much as 8%. The latest round of jitters over high prices for tech shares sent South Korea’s Kospi down nearly 4%, while U.S. futures edged lower. Oil prices sank more than $1 a barrel. Bitcoin was trading near $71,000 early Thursday, down 7% after crashing to about $69,000 earlier in the day, according to CoinDesk. That's its lowest level since November 2024. In share trading, Tokyo's Nikkei 225 shed 0.9% to 53,818.04, while the Kospi in South Korea skidded 3.9%, to 5,163.57. Shares in South Korea's biggest company, Samsung Electronics, lost 5.9%. Chip maker SK Hynix plunged 6.7%. Chinese markets also retreated, with Hong Kong's Hang Seng falling 0.3% to 26,761.00. The Shanghai Composite index gave up 0.6% to 4,079.68. Australia's S & P/ASX 200 fell 0.4% to 8,889.20, while Taiwan's Taiex lost 1.5%. On Wednesday, the S & P 500 fell 0.5% for its fifth modest loss in the last six days, closing at 6,882.72. The Dow Jones Industrial Average rose 0.5% to 49,501.30 and the Nasdaq composite sank 1.5% to 22,904.58. More than twice as many stocks rose within the S & P 500 than fell, but sinking technology stocks weighed on the index for a second straight day. Advanced Micro Devices dropped 17.3% even though the chip company reported a stronger profit for the latest quarter than analysts expected. It also gave a forecast for revenue for the start of 2026 that topped analysts’ expectations, but that may not have satisfied investors after its stock doubled over the last 12 months. Tech stocks are under pressure even when they deliver stronger-than-expected profits after their prices shot higher as they've grown to domina...