A broad-based retreat in semiconductor shares has spilled over into wider emerging-market equities, pushing the benchmark index to its lowest level in more than three months.
The sell-off, which accelerated across Asian trading sessions, reflects growing risk aversion among investors ahead of the Federal Reserve's upcoming policy decision.
The pressure on chip stocks has acted as a drag on regional bourses, with Asian markets extending their decline.
The MSCI Asia Pacific ex-Japan index fell 0.8%, while Japan’s Nikkei 225 dropped 1.1%, adding to a weak start to the quarter.
The losses underscore the sensitivity of global equity markets to the semiconductor sector, which has been a key driver of recent performance.
Currency markets showed mixed signals, with some emerging-market currencies holding firm while others faced pressure.