Global financial markets tumbled Tuesday as tech stocks sparked a broad sell-off across continents. The decline accelerated in Asian trading, with chipmakers leading the charge lower in South Korea. South Korean shares plunged 10 percent, reflecting intense selling pressure in semiconductor and technology sectors.

European markets followed suit with steep losses across major indices. Trading in London and Frankfurt showed similar downward trajectories, as investors reacted to the cascading weakness from Asia. The contagion effect highlighted how interconnected modern markets have become.

Wall Street appeared poised to open with significant losses, as S&P 500 futures dropped sharply overnight. The futures contract suggested the benchmark index could open near session lows when U.S. markets commence trading. This marked a decisive shift from earlier optimism.

The sell-off underscored growing investor anxiety about technology sector valuations and future earnings prospects. With momentum trading driving the declines, the weakness in chipmakers signaled broader concerns about demand for electronic components amid cooling global economic conditions.