AI stock sell-off drags Nasdaq and Kospi lower, India set for gap-down open
According to Moody's, Nasdaq fell 5.52% and Kospi nearly 9%, while Gift Nifty points to an opening drop of about 170 points.
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what happened
A sell-off on Wall Street, driven by unwinding of AI-related trades and heavy losses in chip stocks, spread quickly to Asia. According to Moody's, the Dow Jones Industrial Average lost 3.45%, the S&P 500 fell 4.36% and the Nasdaq Composite dropped 5.52%, pushing the last two into correction territory. Japan's Nikkei 225 fell more than 5%.
South Korea's Kospi plunged almost 9% at the Friday open, forcing the exchange to halt trading for about 20 minutes. Gift Nifty signals a gap-down opening of roughly 170 points. Still, Infosys ADRs rose 4.6%, and foreign portfolio investors bought 14,974.68 crore rupees of Indian stocks on Thursday, their largest single-day purchase in over six years.
Analyst Ponmudi R of Enrich Money said the correction in US technology could carry over into Indian equities, even though most December-quarter results beat expectations. WTI crude, after a one-day pullback, rebounded toward $91 a barrel, keeping worries about India's import bill and inflation in focus.
why it matters
Two factors will shape the near-term outlook: how deep the tech sell-off goes and whether foreign capital keeps flowing into India. Together with oil prices, they will set the direction of the Indian market in the coming sessions.
market impact
US and Asian stock markets: pressure from the tech sell-off; India: support from foreign capital inflows
- Nasdaq pressure down — sell-off in AI and chip stocks pulls tech indices lower
- KOSPI pressure down — opening plunge tied to exits from tech shares and the trading halt
- Indian equities mixed — record foreign buying and strong results offset weakness in Asian markets
instruments
on polymarket
sources
- Nifty may lose around 170 points at open after sharp rally — Moody's, 8 November 2026 at 10:06 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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