Global stock markets have declined sharply due to falls in tech companies' shares

Global stock markets started the week with a sharp decline after a large-scale sell-off in shares of the largest technology companies, which in recent months have been the main beneficiaries of the boom around artificial intelligence. This was reported by the Reuters news agency.

"The story that artificial intelligence drives the entire market cracked last week," said Bob Savage, head of macro strategy at BNY Markets.

Investors began actively selling shares after the manufacturer of Broadcom chips presented a disappointing forecast to the market. Additional pressure was exerted by strong US employment data: market participants fear that the US authorities may keep interest rates high for longer.

The most noticeable drop occurred in Asia. The South Korean KOSPI index fell by 5% and was 13% below its record high. Japan's Nikkei lost almost 4%, while Taiwan's main index lost 3.9%. In the United States, the Nasdaq index fell 4.2% on Friday.

According to Mark Whelan, head of Lucerne Asset Management's investment division, investors have not yet been disappointed in the prospects of artificial intelligence, but decided to lock in profits after the rapid growth of shares.

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The aggravation of the situation in the Middle East caused additional nervousness in the markets. Ryan Perkins, senior analyst at Global Economic Indicator, told Izvestia on June 6 on the sidelines of the St. Petersburg International Economic Forum (SPIEF-2026) that the US-Iran war had created a global shortage of energy and fertilizers. According to him, when the physical shortage of energy resources affects the real market, a very sharp price correction is likely to occur.