Woofun AI reports that a severe tech stock sell-off accelerated declines across Japanese and South Korean equity markets during afternoon trading. The Nikkei 225 index closed at 69788.38 points, marking a drop of 2565.58 points or 3.55%.

Concurrently, the South Korean KOSPI index retreated 910.49 points to close at 8204.06 points, representing a significant 9.99% decrease.

The storage hardware sector faced intense selling pressure, driving substantial losses among major industry players. South Korean giants SK Hynix and Samsung Electronics both recorded declines exceeding 12%.

Meanwhile, Japanese memory chip manufacturer Kioxia suffered an even steeper fall, dropping by over 14.8% in the same session.