'Sell everything' takes hold as tech, crypto, and metals all crack

Businessinsider: Global markets slid as tech, crypto, and silver sold off in a broad risk retreat, with investors pulling back from AI, crypto, and metals as a "sell everything" mood spread. Much of the pressure is coming from tech, as doubts grow over whether the AI boom that powered recent gains can live up to expectations.

In Asia, South Korea's tech-heavy Kospi plunged and briefly triggered a trading halt after the index dropped 5%, with Samsung Electronics and SK Hynix among the hardest hit while Hong Kong's Hang Seng Index fell as much as 2.1%. Cryptocurrencies fell alongside equities, with Bitcoin trading around $64,500 after falling about 10% over 24 hours.

The selling also swept through commodities: spot silver was trading around $71.20 per troy ounce after a violent breakdown and a record high above $121 per ounce last week. "A session of pure carnage overnight," Tony Sycamore of IG Australia wrote, and he warned the rotation out of tech morphed into a "sell everything" mentality.

South Korea, Hong Kong