Technology-heavy equity benchmarks across Asia posted steep losses on Tuesday, as investors continued to flee risk assets amid worsening macroeconomic signals from Russia.
The Japanese, South Korean, and Taiwanese indices all traded significantly lower, reflecting broad-based selling pressure in the semiconductor and hardware sectors.
This deterioration in Moscow has been accompanied by a collapse in domestic economic confidence, with a record 60% of Russian citizens now expressing pessimism about the country's economic outlook.
The decline marks a continuation of the volatility that has gripped global markets following the acceleration of the Russian stock market's downward trajectory.
The sell-off in Asia comes as the Russian market recorded its sharpest weekly decline in nearly four years, culminating a 3.5-month bearish phase.
This deterioration in Moscow has been accompanied by a collapse in domestic economic confidence, with a record 60% of Russian citizens now expressing pessimism about the country's economic outlook.
The contagion effect highlights the interconnectedness of global tech supply chains and investor sentiment.