Asian Markets Tumble as KOSPI Breaks Below 7,000 With Fed Hike Now Near-Certain

Asian markets sank in a risk-off wave after the KOSPI broke below 7,000 for the first time in months, falling to 6,909.91 (-1.76%) on Friday. The selloff followed a Wall Street drop Thursday and intensified overnight across Asia before reaching Europe at the Friday open. Investors cited surging oil, a stronger-than-expected US CPI print, and growing certainty that the Federal Reserve will raise interest rates next Wednesday. Japan was hit hardest intraday as the Nikkei 225 slid up to 3.16% before closing down 1.93% at 64,011.34; Topix fell 0.65%. Regional losses were broad, including declines in Hang Seng, Taiex, and major semiconductor and AI-related stocks.