Tech Sell-Off Rattles Global Markets, Crypto Assets Hold Steady

Wall Street's tech-led slump reverberated across global markets this week, with the Nasdaq dropping over 1% as AI darlings Nvidia, AMD, and Palantir faced sharp pullbacks. The retreat signals growing investor caution after this year's stratospheric rally in artificial intelligence plays.

Asian markets mirrored the selloff, with Japan's Nikkei shedding 2% and Taiwan's TSMC tumbling 4% amid broad semiconductor weakness. While traditional equities wobbled, cryptocurrency markets showed relative stability, with major digital assets maintaining their ranges despite the risk-off sentiment.

The market's focus now shifts to Federal Reserve Chair Jerome Powell's upcoming Jackson Hole speech, which could provide crucial direction for both traditional and digital asset markets. Retail sector earnings from Target and Walmart may offer fresh clues about consumer resilience amid persistent inflation pressures.