South Korea’s market remains the epicenter of this uncertainty, with the Kospi oscillating Wednesday after an initial attempt at recovery. Samsung Electronics climbed 5.65%, yet industry peer SK Hynix struggled to hold gains, dipping 0.9% as sentiment remains fragile. The focus now shifts to Micron Technology, whose upcoming earnings report is expected to dictate whether the current AI memory supercycle maintains its momentum or faces a deeper correction.

Tickmill Group analyst Patrick Munnelly notes that while the AI theme is not collapsing, the influx of capital into a narrow group of winners has left valuations exposed to rising bond yields. Conversely, Wedbush analysts remain bullish, characterizing the recent selloff as a necessary correction for a sector that has seen massive gains this year. Meanwhile, energy markets are cooling alongside tech; crude oil prices drifted lower as supply fears eased, with WTI futures trading at $72.57 and Brent at $76.42. The International Maritime Organization’s recent safety guarantees for vessels navigating the Strait of Hormuz have provided a reprieve, tempering the geopolitical premiums previously baked into oil prices.